adminofficial has said.
Zimbabwe Power Company managing director Mr Noah Gore said they have also managed to negotiate for a higher tariff charge with Nampower.
He was giving oral evidence before a Parliamentary Portfolio Committee on Mines and Energy. The committee chaired by Cde Edward Chindori-Chininga wanted to know what the firm was doing to enhance power generation.
“To date we have reduced to US$18 million (the debt to Nampower). The tariffs were very low but we have managed to negotiate with them and it is now 3,8 US cents per kilowatt from 2,8 US cents per kilowatt,” he said.
Zesa received a US$40 million loan to refurbish Hwange Power Station.
As part of repayment, Zesa Holdings agreed to pay the loan by exporting electricity to Nampower. Mr Gore said ZPC had various power generation projects but some of them were stalled owing to lack of finance.
He said the Zimbabwe Transmission and Distribution Company, its sister firm, owed them more than US$270 million in unpaid services.
The ZPC chief however, said the pre-paid meters would improve ZETDC revenue and in turn enable the power transmission to pay its debts.
Cde Chindori-Chininga urged ZPC to show concern with the people’s plight who are suffering because of the power deficits in Zimbabwe.
He said ZPC’s power generation projects remained a pipe dream unless there was serious commitment.
However, Mr Gore said: “I want to assure the House that yes we are dreaming, but it’s not a bad dream.
“It’s an enlightened dream.”
The committee was told the various efforts by ZPC to enhance power generation.
Uzumba MP, Cde Simba Mudarikwa said the unbundling of Zesa Holdings did not bring meaningful returns for consumers.
He said there was need to consolidate the units and not create several companies under one roof with executives who require top-of-the-range vehicles which was costly in the end.
Online Reporter