Sao Tome, Sao Tome and Principe, 21 April – Consumer electricity prices in Sao tome and Principe are set to increase by 33 percent, reflecting fuel price rises on the international market, the chairman of Sao Tome’s state electricity company (EMAE), Higino Will said Thursday.
According to Will, the increase, which will be applied this month, will be 50 percent for embassies and international institutions, and 60 percent for state bodies, according to the tariff update agreement outlined at the end of last year and which is now being applied.
The increase, Wills told daily newspaper Tela Non, is due to the price increase on diesel for the company, which is 94 percent over the past year.
Will added that the refurbished Contador hydroelectric dam should be online in the next month, improving power supply in the archipelago.
As well as refurbishing the dam and a thermal power plant, EMAE is also planning to build mini hydroelectric dams in the archipelago, with the aim of boosting power production by 15 kilowatts.
The refurbishment of the hydroelectric and thermal plants required EMAE to take out a loan pf US$1 million with commercial banks, he added.
Part of this amount was used for buying fuel as fuel company Empresa Nacional de Combustíveis (ENCO) refused to allow EMAE further credit due to an accumulated debt estimated at US$2.7 million. (macauhub)