Business / Companies
ZETDC to post $18 million loss
14 Sep 2016 at 15:24hrs | Views
Zimbabwe Electricity Transformation and Distribution expects to suffer a staggering $18million loss be end of the year.
The utility firm partly blame the development on current tarrif structure.
"The issue of declining tariff had continued to weigh down on us' Managing Director Julian Chinembiri told a World Energy Council Dialogue series in Harare today.
He added 'Ever since the announcement of the tarrif hike rejection nobody wants to be associated with us".
A 49% tarrif hike was thrown out early this year.
He said $42 million is required for maintanance and replacement of transformers.
Source - Byo24News
