The Lesotho Electricity Company (LEC) has filed application for 32.6% electricity tariffs increase with the Lesotho Electricity and Water Authority (LEWA).
business
Feb. 17, 2020
STAFF REPORTER
1 min read
LEC requests M1,21billion revenue
LEC, the parastatal with a mission to provide reliable, safe, environmentally friendly and quality electricity for sustainable economic growth and improved quality of life for the people of Lesotho, requests approval for a revenue requirement of M1.21 billion for the financial year 2020/21.
According to the LEWA Chief Executive Officer Motlatsi Ramafole, in line with section 24 (3) of the Lesotho Electricity of Authority Act 2002 as amended, LEC submitted on January 17th an application for tariffs of 32.6 % on both the energy and maximum demand charges across all customer categories.
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The main cost items the LEC proposed revenue requirement for comprised of bulk supply purchases projected at M558. Million, repairs and maintenance M55.9 million, depreciation charge M116 million; labour costs M196.3 million, operating expenses M120.4 million; diesel for Semonkong M2.67 million and return on asserts M160 million.
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