The Namibia Electricity Control Board (NECB) has proposed a 7.3% increase in electricity tariffs for the period 2024/2025. This increase is in line with the NECB’s cost-reflective tariff methodology, which aims to ensure that electricity prices reflect the actual cost of providing electricity. The increase will be implemented in two phases, with a 3.65% increase effective from 1 July 2024, and a further 3.65% increase effective from 1 July 2025.
The NECB has cited several factors that have contributed to the need for the tariff increase, including the rising cost of fuel, the need to invest in new infrastructure, and the need to maintain the reliability of the electricity supply. The NECB has also emphasized that the proposed increase is lower than the current rate of inflation, and that it is committed to keeping electricity prices as low as possible while still ensuring the financial sustainability of the electricity sector.
