URA working with Government to find solutions to electricity price hikes
May 11, 2022 2:48 am | Posted in Business News | Share now TwitterFacebook
By Josepheen Tarianga.
The Utilities Regulatory Authority (URA) is working with the Government in attempts to find solutions to the fluctuating electricity prices. Green energy is among the solutions being considered.
In August 2021, the URA had announced an increase of electricity prices by 1.3%. In September, this price increased by 1.93%. VT53.85kWH in August to VT54.89kWH. The price hike took place in less than a month.
In 2022, the hikes continue as March had a VT57.63kWH electricity price that was adjusted upwards by 4.25%. An electricity price of VT60.08kWH for April of 2022.
This is a very difficult situation for us to maneuver as it is out of our hands. The price of fuel that is increasing which contributes about 40% to the price of electricity. Even if we did manage to establish a way to lower the cost of electricity, when the fuel prices continue to increase so will the electricity prices, says the Chief Executive officer (CEO) of URA, Paul Kaun.
“One of the options we are working on with the Government is promoting the use of green energy. We have approached aid donors and are still to get a positive response. Right now there is still no way to assure this option” says Mr Kaun.