Latest News Updates

Government will release Treasury Bills (TBs) worth about $600 million to clear debts owed to Zesa Holdings by local authorities and State enterprises . Zesa Holdings through its subsidiary, Zimbabwe Electricity Transmission and Distribution Company has been battling to recover over $1 billion in unpaid power bills.

The release of more TBs comes amid concern that Government continues to add to its stock of debt which could have far-reaching implications to the economy. To date, over $4 billion TBs have been issued for various reasons.

Energy and Power Development Permanent Secretary Partson Mbiriri told the Parliamentary Portfolio Committee on Mines and Energy yesterday that an agreement had been reached with Treasury which will see it settling debts owed to the state power utility.

  • - herald
  • Zimbabwe might experience massive load shedding starting next week if Zesa Holdings fails to settle an outstanding power import bill of $43 million owed to Eskom of South Africa and Hydro Cahora Bassa (HCB) of Mozambique.

    Eskom supplies Zimbabwe with 300 megawatts, while HCB chips in with 50 megawatts. The South African power company has threatened to switch off Zimbabwe if Zesa fails to pay the outstanding amount in eight days. Zimbabwe consumes about 1 400 megawatts daily against a generating capacity of around 980 megawatts.

    Zesa owes the two regional power giants more than $100 million, but the $43 million is emanating from the payment plan the power company has failed to honour due to foreign currency shortages.

    Earlier this year Zesa made payment plans with regional power utilities and should have paid $89 million between January and April. The authority managed to pay off $46 million, leaving a balance of $43 million. The payment plan included 2016 arrears.

    The creditors gave Zesa up to May 31 to clear the arrears in the payment plan, but with only eight days to go, the power utility has not paid anything.

  • - chronicle
  • Zimbabwe might experience massive load shedding starting next week if Zesa Holdings fails to settle an outstanding power import bill of $43 million owed to Eskom of South Africa and Hydro Cahora Bassa (HCB) of Mozambique.

    Eskom supplies Zimbabwe with 300 megawatts, while HCB chips in with 50 megawatts. The South African power company has threatened to switch off Zimbabwe if Zesa fails to pay the outstanding amount in eight days. Zimbabwe consumes about 1 400 megawatts daily against a generating capacity of around 980 megawatts.

    Zesa owes the two regional power giants more than $100 million, but the $43 million is emanating from the payment plan the power company has failed to honour due to foreign currency shortages.

    Earlier this year Zesa made payment plans with regional power utilities and should have paid $89 million between January and April. The authority managed to pay off $46 million, leaving a balance of $43 million. The payment plan included 2016 arrears.

    The creditors gave Zesa up to May 31 to clear the arrears in the payment plan, but with only eight days to go, the power utility has not paid anything.

  • - chronicle
  • STANDARD Bank Group says it has finalised a $120 million debt package with the Zimbabwe Power Company (ZPC) for the rehabilitation of existing power generation infrastructure at Kariba South Hydro and Hwange Thermal Power Stations.

    The deal is set to help boost domestic generation capacity and avert power imports in the long term. Zimbabwe is presently grappling power shortages due to low domestic generation hovering around 1 000MW against average demand of 1 400MW and above.

    Acute cash shortages in the economy have also seen the power utility failing to service import arrears forcing South Africa’s Eskom recently to give ZESA up to the end of May to clear its $43m debt or risk losing 300MW daily supplies. The country also imports electricity from Mozambique.

    As lead arranger for the facility, Standard Bank said it has partnered the Eastern and Southern African Trade and Development Bank (formerly PTA Bank) to deliver the financing.

  • - chronicle
  • THE Zimbabwe Power Company (ZPC) is targeting a 15,38 percent increase in electricity generation to 7 822,05 gigawatts per hour this year compared to 6 779,16GWh produced last year.

    Due to subdued domestic generation, Zimbabwe is importing about 300MW power from South Africa’s Eskom to cover the power deficit while discussions are in progress with other regional utilities, Lusemfwa of Zambia and EDM of Mozambique for more imports.

    “The 2017 production target has been set at 7822.05GWh from the 2016 output of 6 779,16GWh. The increase is attributed to the 50 percent increase in water allocation at Kariba Power Station to 15 billion cubic metres for the year 2017,” said ZPC.

    Last year, the Zambezi River Authority had to ration water allocated to power generation at Kariba Power Station because of the falling water levels at Kariba.

    ZPC said to meet the envisaged production targets, the power company was implementing a number of strategies at the power stations.

  • - chronicle
  • South African power utility, Eskom, has given Zesa Holdings until the end of this month to clear its debt of $43 million, failure of which it threatens to cut 300 megawatts from the amount it is supplying Zimbabwe per day, raising fears of load-shedding.

    Zimbabwe consumes more than 1 400 megawatts per day and a cut of 300 megawatts would have a damaging impact on industry and winter wheat cropping under way.

    Zesa Holdings has managed to pay off Eskom $46 million, leaving a balance of $43 million. The power utility also owes Hydro Cahora Bassa of Mozambique $40 million. Eskom wrote to Zesa stating that “no further lenience or accommodation” would be given to Zimbabwe with effect from June 1 with regards to the outstanding debt.

    Zesa earlier this year made payment plans with regional power utilities, but foreign currency shortages have seen it defaulting.

  • - chronicle
  • A NEW law banning the sale of power-guzzling light bulbs takes effect today (May 1), as energy regulator, ZERA, seeks to pivot the economy away from energy inefficient lighting systems at a time climate change is escalating.

    The law prevents the familiar incandescent light bulb, and other high energy consuming products such as fluorescent tubes, from being sold, made or imported into Zimbabwe, ZERA says.

    Traders had three months to clear out inventory of inefficient lighting before the ban, announced in January, took effect.

    From today, retailers and wholesalers who continue to stock the old-style bulbs, or consulting engineers that recommend inefficient lighting, will be liable to a fine or face six months in jail.

  • - herald
  • ZIMBABWE Electricity Supply Authority (Zesa) continues to push for a tariff hike in order to recapitalise its operations and pursue planned projects despite two previous failed bids.

    Last year, the Zimbabwe Energy Regulatory Authority (Zera) declined the power utility’s application for an upward tariff review twice.Zesa intends to raise more funds to import additional power and expand local generation capacity.

    A tariff of 14,6c per kWh, which is in line with tariffs charged by other utilities in the region, is considered to be ideal. But industry believes the tariff has to be slashed to 8c per kWh, especially for the productive sectors of the economy.

    On the other hand, Government says Zesa does not have the capacity to subside industry. “We can’t reduce electricity to such levels (8c/kWh) as Zesa has no capacity to subsidise consumers be it heavy or light consumers. “We have no money for subsidies, so consumers should look for alternatives to fund their electricity consumption,” added Dr Murerwa.

    Zesa spends US$48 million on power imports from Mozambique (50 megawatts (MW) and South Africa (300MW), and all supplies are paid for in cash. Zera, however, contends that eliminating inefficiencies will help the state entity forgo a tariff increase while viably maintaining operations.

  • - sundaymail
  • POWER utility Zesa Holdings will invest nearly $200 million towards the installation of smart meters for medium and heavy consumers of electricity.

    This comes after Zesa said it had completed installation of 590 518 prepaid meters, Phase one of the prepaid meter project, which is 6 percent behind the target due to foreign currency payment challenges.

    “The total cost for the prepaid metering project was around $100 million and the total cost for smart metering project is estimated at around $190 million including cost of the Meter Data Management System,” Zesa said.

    According to Zesa, points targeted for smart meters contribute around 60 percent of ZETDC’s revenue. Smart meters are high precision intelligent prepaid metering systems with bidirectional communication capability.

    The power utility is targeting to install 4 000 smart meter units by December this year and a total of 40 000 when the project is completed in 2019. The Zimbabwe Electricity Transmission and Distribution Company said 25 000 of the awarded tender for 130 000 units have been delivered.

  • - chronicle
  • The US$1 billion expansion of Hwange Thermal Power Station will begin this year, with ground-breaking scheduled for July.

    The project is part of the mega deals Zimbabwe and China signed during President Mugabe’s visit to the global power in 2014, and involves constructing two units that will feed 600MW into the national power grid.

    The power station presently has six units with installed capacity of 920MW, but ageing equipment means only 600MW are being generated.

  • - sunday mail
  • THE Zimbabwe Stock Exchange listed resources firm, RioZim, is courting regional and international investors to finance its proposed power station and coal mining project in Sengwa, the Financial Gazette’s Companies & Markets can report

    The company was granted a licence to construct the power station, which is expected to generate about 1 400 megawatts of electricity, more than a decade ago.

  • - financial gazette
  • 12 independent power producers, out of a total of 30 IPPs licensed by the Zimbabwe Energy Regulatory Authority are now operational, but the regulator says it will not hesitate to revoke the licences where lack of progress is noted.

    Some of the 12 that are now operational are Hippo Valley and Triangle with a generating capacity of 33MW and 45M, respectively and mini hydros in Honde Valley, Nyamhingura 1,1MW, Pungwe 2,7MW and Duru 2,2MW.

    Zimbabwe has suppressed power demand of 1 400MW against internal generation capacity of about 1 100MW. The deficit is met through imports from the region, which is currently constrained by shortage foreign exchange.

  • - herald
  • About

    public.co.zw is Zimbabwe online notice board, we look all over the internet for zimbabwe latest news and interesting information that affects our everyday life and pin them here.

    An Elitepages Project