A Brighter Future Powering Zambia’s Economy Zambia Chamber of Mines March 2017

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A Brighter Future
Powering Zambia’s Economy
Zambia Chamber of Mines
March 2017

Table of contents
Foreword
Understanding the basics
Why is Zambia short of electricity?
Why mines consume so much electricity
The cost of providing electricity
The cost of electricity — the mines’ perspective
The current state of the Zambian power sector
Lighting up Zambia
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Foreword
by Nathan Chishimba
Zambia has been blighted by power
cuts for a number of years now. They
are deeply inconvenient for the ordinary
citizen, and have caused untold
damage on businesses and the wider
economy.
Why do we have power cuts? In short,
because demand for power now
outstrips the nation’s installed
generation capacity.
As this booklet shows, increasing
demand is to be celebrated – it is a
sign of economic and social development
marching hand-in-hand.
However, unless Zambia revitalises its
once-envied power sector, we risk
undoing the progress achieved since
the early 2000s.
Building more power plants is critically
important; but it is not the only
consideration.
Power infrastructure is hugely expensive.
There is little point building more if
the resulting electricity becomes
unaff o rd a b l e , o r saddles our
businesses with additional costs that
make them uncompetitive.
New and affordable power can
facilitate economic development, as it
did at the turn of the millennium. But
new power that is unaffordable will be
a burden for the nation to bear.
At present, the signs are not good.
Procurement of new power, from a
range of new Independent Power
Providers, appears to be overpriced.
Most stakeholders, including the
Energy Regulation Board, question the
efficiency of the State electricity
supplier, ZESCO. Fortunately, a Cost of
Service Study is being commissioned
this year, funded by the African
Development Bank, so Zambians
should know the real picture soon
enough.
The decisions that must be taken to
reform the power sector will have a
multi-decade impact on the future of
Zambia, for good or for ill. A clear
vision and a strategy, informed by a
thorough and impartial understanding
of the state of the current system, is
essential. To carry all stakeholders with
them, the government and regulator
must persuade Zambians that they are
prepared to take all necessary actions
to provide the best possible service to
citizens.
Zambia is at a crossroads. We must
take the path that leads to a brighter
future.
Nathan Chishimba
President, Zambia Chamber of Mines
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Understanding the basics
How electricity gets from the power station to the home
Electricity – a fascinating story
It lights our streets, powers our homes
and businesses, and even keeps our
mobile phones running. But where
does electricity come from? And how
does it get into our lives in a form so
safe and convenient that we can get it
simply by flipping a switch? There are
three key stages in the story of
electricity – generation, transmission
and distribution.
Fossil fuels
Electricity is generated at a power
station, where mechanical energy is
converted into electrical energy.
Typically, fossil fuels (oil, coal, gas, etc)
are burned to produce heat energy in
the form of steam, which then drives a
rotating generator that produces
electricity.
Alternative sources
In Zambia, where hydroelectric power
is more common, water is stored in a
dam and is released to drive turbines
at the base of the dam – this creates
the rotational power to produce
electricity. Then there are nuclear
power stations; they use nuclear
GENERATION
reactions to generate heat energy.
Electricity can also be generated using
wind turbines, tidal energy and solar
panels – so-called renewable energy
sources.
Transporting the electricity
To get the electricity from the power
station to where the users are, it has to
be transported around the country. The
electricity flows along powerlines,
which are strung together over great
distances and supported by large steel
towers – or pylons. It flows at very high
voltages, because this helps to reduce
energy losses. Electricity in this raw
form is suitable for large industrial
users, but not for commercial or
residential users.
Making the electricity safe for use
There are three broad categories of
c u s t ome r – i n d u s t r i a l u s e r s ,
commercial users and residential
users. They each have different voltage
requirements, and this influences the
way in which electricity is distributed to
them from the high-voltage powerlines,
and made safe for use.
TRANSMISSION
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DISTRIBUTION
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Industrial users
Industrial users (e.g. mines, big plants
and factories) require high-voltage
electricity for their heavy machinery
and equipment. A mine, for example,
will take its electricity straight from the
high-voltage transmission lines, in raw
form, and feed it into its own purposebuilt
network of substations, transformers
and distribution lines. The
power is then distributed to its
operations and mining communities.
Essentially, the mine builds and runs its
own distribution network.
Medium and smaller industrial users
(such as plants and factories) also
require high-voltage electricity, though
not at the same level as mines. Also,
they do not build and run their own
distribution networks.
Commercial users
Commercial user s (e.g. of fice
complexes, malls, hotels) need their
electricity to be reduced – or stepped
down – to medium voltage, before
being delivered to their premises. All of
this is done by the electricity supply
company (e.g. ZESCO) via a complex
network of substations, transformers
and distribution lines.
Firstly, the electricity from the highvoltage
transmission lines is fed into
distribution substations that reduce it
to medium voltage. It is then carried by
primary distribution lines (typically
mounted on wooden poles) to
distribution transformers located near
the commercial customers’ premises.
Residential users
At the end of the chain is the domestic
or residential user, who requires lowvoltage
electricity for use in household
appliances, ovens, lighting and
heating/cooling systems.
This involves a further layer of
distribution transformers to reduce the
electricity from medium to low voltage.
The low-voltage electricity is then
transported to residential neighbourhoods
via secondary distribution
lines, which are a common sight on
roadsides.
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Source: ZESCO website
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The importance of energy
losses
The electricity entering the transmission
and distribution network is
never the same as the electricity
coming out at the other end – and the
reason for this is losses, or “leakage”.
World Bank figures show that these
losses are as low as 4% in developed
Western countries, and as high as
20% or more in many developing
countries in Africa and Asia.
The losses occur for both technical
and non-technical reasons, and they
are most significant at the distribution
stage.
Technical losses are affected by the
design, quality and maintenance of the
grid. Losses are particularly high during
the process of stepping down, or
reducing, the electricity from high to
low voltage.
There are also non-technical losses, for
reasons such as theft, meter fraud,
unmetered supply and poor energy
accounting. These are more prevalent
in developing economies.
Losses are a measure of the efficiency
and financial sustainability of the power
sector, and is an indicator of the
operational soundness of the electricity
supply company. The smaller the
losses, the greater the revenue
generated and recovered, which
improves the ability to offer lower tariffs
and invest in new infrastructure.
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Why is Zambia short of electricity?
From a surplus to a deficit
1960s: A model of energy supply
Zambia’s first power station, built at
Livingstone in 1906, was a thermal
plant. The bulk of all subsequent
power generation has been hydroelectric,
given Zambia’s geography and
abundant water resources.
Hydroelectric power was first harnessed
at Mulungushi power station in
1923, and between then and 1971, the
majority of Zambia’s present powergeneration
capacity was installed.
Indeed, the Kariba North Bank
extension, commissioned in 2014, is
the only power plant to have been
commissioned since 1977.
In the 10-20 years after independence
in 1964, Zambia was blessed with firstclass
energy infrastructure and
experienced a period of surplus,
exporting power to both Zimbabwe
and South Africa. Electricity was
competitively priced and reliable;
power outages were non-existent; the
economy had all the power it needed
for future growth and expansion.
However, this growth and expansion
failed to materialise.
1970s-90s: The economy contracts
Zambia’s costly power plants had been
built primarily to service the nation’s
mining industry. However, from 1973
onwards, the Zambian economy
struggled under the dominant effect of
neglected investment and shrinking
production in the newly nationalised
mining industry, compounded by a
falling copper price and a rapidly rising
oil price.
As the mining industry contracted, so
did demand for electricity – a
combination of external factors and
harmful policies saw the economy go
into a long period of decline. By the
end of the 1980s, Zambia’s economic
situation, along with living standards,
had deteriorated considerably. The
country emerged from this painful
economic period at the end of the
1990s with a new government and a
new economic policy. Given the
continuous contraction of the economy,
Zambia now had a significant
surplus of electricity that needed to be
utilised, particularly as surplus
electricity cannot be easily stored.
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Late 1990s: Energy surplus facilitates
privatisation
The energy surplus turned out to be a
big competitive advantage when the
government privatised the mining
industry. ZESCO was both willing and
abl e t o offer the new mining
companies competitively priced tariffs,
in order to generate an income from its
surplus power capacity, which in turn
greatly improved the attractiveness of
Zambia as an investment destination.
The privatised mines invested more
than $10 billion into expansion and
new mines over the next decade,
enabling Zambia to boost copper
production and benefit from the
worldwide commodity boom.
2000s: Zambia’s economy booms,
driving up energy usage
The wave of mining investment boosted
economic growth, and this would
not have been possible without
Zambia’s affordable, fully depreciated
(i.e. fully paid for) energy supply. New
businesses were created, people were
employed throughout the economy,
and disposable incomes increased.
Figures by the World Bank show that
from 2000 to 2013, Zambia’s GDP per
capita – which measures the average
income of the population – grew more
than fivefold, the biggest and fastest
increase since independence.
Industrial investment and increased
production drove energy consumption
by industrial users; and growing
employment and earning power led to
increasing energy demand from a
rapidly growing class of residential
users. “As countries develop and living
standards improve, energy demand
grows rapidly,” says a 2016 report from
the U.S. Energy Information Administration.
So, far from being in competition,
domestic and industrial users are
actually partners in energy usage, as
their increasing consumption goes
hand-in-hand, and taken together is a
sign of overall national development.
However, inevitably, Zambia’s electricity
surplus started to erode during
the decade of economic boom. With
insufficient planning, given the time
that it takes to build new capacity, and
insufficient investment in new powergenerating
capacity, the country
started drifting towards the power
deficit it is still experiencing today.
The future
A range of new power plants, ranging
from mini-hydroelectric projects to
coal-fired power stations and solar
farms, are currently at various stages
of planning or development. Zambia’s
energy deficit is expected to start
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easing in the coming years as these
projects gradually come on stream.
However, this new electricitygeneration
capacity is only one part of
the answer to Zambia’s energy crisis.
As Zambia’s history shows us, unless
investments in expensive power
generation infrastructure have the
effect of boosting economic activity,
they can become a millstone round the
neck of the nation.
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Why mines consume
so much electricity
Modern mining is increasingly mechanised
It’s the very nature of the business
Because of the huge amount of work,
heat and processing required to
produce metals, mining is one of the
most energy-intensive industries in the
world, and accounts for about 5% of
global electricity consumption.
Explosives blast open the earth,
releasing millions of tonnes of ore
which have to be crushed and ground
into smaller pieces. It then undergoes
various chemical and heat-treatment
processes before emerging at the
other end as finished metal ready for
export. And mining is not a nine-to-five
business where everything shuts down
at the end of the day; it operates
around the clock and throughout the
year.
The sheer magnitude of the work done
is staggering. For example, KCM’s
Konkola Deep mine on the Copperbelt
runs electrically driven underground
pump stations that pump 450 million
litres of water to the surface every day
– that’s enough to fill 180 Olympic-size
swimming pools.
Also pushing the consumption of
electricity in the world’s mines is a
move away from diesel-powered
machinery to electrically powered machinery,
which is safer, more efficient
and more environmentally friendly.
Mines often biggest users of electricity
In mining countries, the industry
typically represents a significant – and
sometimes the largest – slice of
national energy consumption . In Chile,
the world’s largest copper producer,
mining accounts for more than 20% of
total power consumption; in South
Africa, the proportion is about 15%; in
Australia, it is 9%; in Zambia, it is more
than 50% – reflecting Zambia’s small
installed energy base compared to that
of larger, more diversified economies.
The United States, for example, has a
huge mining industry that produced
$110 billion of coal, metals and
industrial metals in 2015. Yet, because
of the country’s large installed energy
base, mining there only uses about
10% of national electricity consumption.
Mines do not “deprive” the rest of
the country of energy
In the current loadshedding environment
in Zambia, it’s easy to draw the
conclusion that there would be fewer
power outages if it wasn’t for the
mining industry consuming more than
half of the country’s output.
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However, the problem isn’t the mining
industry’s power consumption, which
is well within global norms, but
insufficient power supply. Zambia’s
mines cannot be any less energyintensive
than they already are, and are
already running at around 70% of their
Did you know?
First Quantum Minerals’ high-tech $2.1-billion Sentinel Mine, in North-Western
province, uses the world’s largest rope shovels. They lift up to 120 tonnes
(120 000 kg) of ore in a single scoop. This $25-million electrically powered
machine is manufactured by mining-equipment supplier, Caterpillar, and is one of
a fleet of three. It operates 20 hours a day, filling haul trucks which take the ore
out of the open pit for processing. The rope shovel’s average power requirement
is 11 000 kW – by comparison, the power demand of an average household
oven is 2.4 kW. Just one of these giant machines consumes twice as much
electricity in the course of a single day as the average home in the United States
consumes in an entire year.
operating power requirements.
Reducing power to the mines means
reducing production, which negatively
impacts employment, export earnings,
government tax revenue and economic
growth.
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The cost of providing electricity
It varies according to customer requirements
Factors influencing electricity prices
Electricity, like all products and
services, comes at a cost. As we saw
in the first chapter, Understanding the
basics, electricity has to be generated
at power plants, transmitted via highvoltage
transmission lines all over the
country, and then distributed to
customers via a vast, complex network
of substations, transformers and
distribution lines. First and foremost,
the price of electricity therefore reflects
the cost of building, financing,
maintaining and operating the power
plants, as well as the complex system
of power transmission and distribution
infrastructure – more commonly known
as the grid.
Electricity costs not uniform
The cost of providing electricity to
various categories of customer varies
significantly; therefore, they are
charged significantly different prices.
Electricity prices are usually highest for
residential customers, because it costs
more to distribute electricity to them;
the reason is the extensive infrastructure
(substations, transformers and
distribution lines) required to step down
the voltages to levels safe for
household use.
It is much cheaper to provide electricity
to large industrial customers – such as
mining operations. Because they receive
it at high voltage straight from the
transmission lines, there is no need for
all the additional and expensive
infrastructure that comes with building
and maintaining the residential
distribution network. In addition, their
demand pattern is stable (i.e. the need
for electricity doesn’t fluctuate
dramatically during the day). Therefore,
it is more manageable for the supplier.
Finally, because they operate their own
electrical infrastructure, they manage
and carry the cost of energy losses in
distributing power to their operations
and communities – and we already
saw in Chapter 1 how significant these
can be. Energy losses for residential
and commercial users, on the other
hand, are managed and borne by the
electricity company.
“The price of power to industrial
customers is generally close to the
wholesale price of electricity,” says a
U.S. Energy Information Administration
(EIA) factsheet .
Some international comparisons
Figures by the EIA show that in 2014,
the average price of electricity per kWh
in the United States was 12.5 cents for
residential users, and 7.01 cents for
industrial users – a 44% difference.
European Union statistics for 2016
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show that the average price of
electricity was 0.219 euros for
households, and 0.124 euros for
industrial users – a 43% difference.
A similar difference exists in Zambia.
According to estimates by First
Quantum Minerals, Zambia’s largest
mining company, it is 5 cents per kWh
cheaper to supply high-voltage
electricity to the mines than lowvoltage
electricity to households.
A global competitiveness issue
In many countries, energy-intensive
industries such as mines, chemical
plants and other heavy-duty factories
compete in global markets. Energy
costs are a key driver of their
competitive advantage, and play a
primary role in business decisions.
This is not just a problem in developing
countries such as Zambia, but is
increasingly prevalent in the developed
world too. In Germany, where
increasing use of expensive renewable
energy has greatly increased energy
costs, big-name companies such as
BASF, BMW and SGL Carbon have
shi f t e d ne w mul t ibi l l ion-dol l a r
investments to the United States,
where energy is much cheaper. “As
green policies drive up the cost of
power, entire industries are shrinking,”
s a y s t h e Ge rma n n ews p a p e r
Handelsblatt .
In Britain, The Times reports that Tata,
Britain’s biggest manufacturer, blamed
“cripplingly high” energy costs for a
decision to shed 1 200 jobs at its
Scunthorpe plant in 2015. And in India,
where industrial users pay high prices
for electricity, an official committee
look ing int o t a r i ff re form ha s
recommended lower tariffs for them as
the country moves from a deficit to a
surplus, reports India’s Economic
Times .
Industrial users play a key role in
generating employment, tax revenue
and economic growth; and countries
are becoming increasingly aware of the
importance of competitively priced
energy for them.
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The cost of electricity – the
A major element of the industry’s cost structure
Electricity major cost element
Electricity is one of the largest single
elements in the cost structure of the
average mine, keeping equipment,
machinery and infrastructure functioning
around the clock, year-round.
“When considered as a portfolio that
includes diesel, heavy fuel oil, grid
electricity, gas, LNG and other sources,
energy can represent up to 30% of a
mining company’s total operating
costs,” says professional services firm
Deloitte, in its Tracking the Trends
report for 2016.
In Zambian mines, grid electricity is the
most significant element of the energy
mix. The typical large Zambian mine
spends several million dollars a month
on electricity. Together, electricity and
labour account for up to 50% of total
operating costs for Zambian mines .
Factors affecting a mine’s electricity
costs
A mine’s electricity consumption
depends on factors such as its size, its
design (underground, open-pit or
incline), the grade of copper ore (high
or low) and i t s technological
sophistication. Together, they affect
how much work – and hence energy –
goes into producing a tonne of copper.
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Ultimately, production is the deciding
factor: a mine producing a lot of
copper will consume a lot of electricity.
So, a small, compact underground
incline mine such as Chibuluma, which
produces 10 000 tonnes of copper a
year, will have a smaller energy bill –
both in absolute and proportional
terms – than a large, open-pit mine
such as Kansanshi, which produces
more than 200 000 tonnes of copper a
year.
Geology matters too: under-ground
mines on the Copperbelt, such as
Mopani and KCM, have to pump
hundreds of millions of litres of
underground water to the surface
every day. Keeping the electrically
driven pump stations running around
the clock is the single-largest element
of their electricity bills.
Producing their own electricity
Access to affordable, reliable electricity
is so important to the world’s mining
companies that some of them have
had to invest in their own power
sources. Mopani’s parent company,
Glencore, has invested $368 million
and more than four years building a
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mines’ perspective
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450-MW hydroelectric plant in the
Democratic Republic of Congo (DRC),
where power availability is a critical
problem. The decision by a mine to
build a power station is typically
factored into the original investment
decision, and can easily double the
project cost. In the DRC, the rich
grades of copper – among the highest
in the world – make the huge
additional upfront power costs worth
the investment.
Zambia’s mines have never – so far –
had to embark on building their own
power stations, because the country
already had an abundant source of
competitively priced electricity at the
time of privatisation in the late 1990s.
In any event, as Zambia’s century-old
copper mining industry is now
experiencing declining grades of
copper – often just 0.5% – massive
independent power investments in the
future are unrealistic. The mines’ power
investments to date have been mainly
to supplement the existing infrastructure:
for example, by building
transmission lines to connect new
mines to the grid. First Quantum
Minerals has built 600 km of
powerlines, at a cost of nearly
$100 million, to bring power from the
national grid to its Sentinel mine, in
Kalumbila.
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The current state of the
Zambian power sector
Progress has been made, but challenges remain
Insufficient supply
Zambia currently cannot generate
enough electricity to meet its daily
needs. Power continues to be
imported at very high cost, putting
severe pressure on the Treasury; the
mines are running on reduced power,
curtailing their ability to operate
efficiently or expand production; and
the country is subjected to almost daily
loadshedding. These outages cause
immense hardship for ordinary citizens,
and put huge commercial strain on
businesses, many of whom have to run
expensive stand-by generators to keep
their operations going.
Insufficient long-term investment
According to a 2015 World Bank
report, Powering the Zambian
Economy , prior to the 360MW Kariba
North Bank Extension completed in
2015, the last major power plant to be
commissioned in Zambia was the
Kariba North Bank, in 1977. That
situation has now finally been
addressed. The report says there are
six power plants at various stages of
development, some of which have
been in the pipeline for more than a
decade. Their total capacity is more or
less 1 730 MW; that compares with
ZESCO’s current installed base of
2 330 MW. However, the report says
that despite these projects, and even
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with above-average rainfall for the
country’s existing hydroelectric plants,
“current power shortages will continue
through 2018”.
Uncompetitively priced new power
projects
Proposed tariffs on some of the new
power projects coming on stream are
considerably above international
benchmarks. The US Energy Information
Administration has benchmarked
tariffs globally for new power plants,
enabling comparisons with similar
plants in countries around the world.
According to an internal study on
comparative energy costs done by
First Quantum Minerals, Zambia’s
largest mining company, the proposed
electricity tariffs for Maamba Collieries
and Itezhi-Tezhi are, on average, 23%
higher than global benchmark costs.
The study attributes these differences
to lack of strict cost controls, lack of
transparency around the cost of
producing electricity, and pressure from
ZESCO for higher tariffs to generate
urgently needed revenue.
Cost of producing electricity not
known
The cost of procuring electricity from
Z a m b i a ’s new g e n e r a t i o n o f
Independent Power Producers is just
one side of the coin. On the other, is
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ZESCO’s internal costs – staff costs,
overheads, etc. – as well as the actual
costs of producing and supplying
electricity, and the losses or “leakage”
that occurs in the course of it. These
costs are, in time, passed on to the
consumer; that is at the heart of the
call for ‘cost-reflective tariffs’.
However, as Finance Minister, Hon.
Felix Mutati said in his 2017 national
budget speech, cost-reflective tariffs
“does not mean that consumers
should end up paying for inefficiency”.
But Zambians do not know how
efficiently their national electricity
supplier, ZESCO, is operating, or what
the real cost of producing electricity is.
The last time a formal Cost of Service
Study was done was ten years ago, in
2007. The importance of knowing the
true cost of producing electricity in
Zambia, and how it compares with
international benchmarks, cannot be
understated.
Users certainly shouldn’t pay for the
provider’s inefficiency. However, they
must benefit from greater efficiency,
through the lowest possible tariffs.
For, to be a facilitator of economic
development, power must not only be
plentiful and reliable – it must be
competitively priced too. Plentiful,
reliable power that users cannot afford
is little better for the nation than having
no power at all.
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Lighting up Zambia
Towards a brighter future
It starts with reform
Zambia needs a reliable supply of costefficient,
competitively priced electricity.
The health and well-being of citizens,
businesses and the broader economy
depend on it. Zambia’s ability to grow
and diversify over the coming decades
depend on it.
The power sector in its present form
has not been able to deliver this
electricity supply. This implies an
urgent need for reform. As the Energy
Regulation Board itself concluded in its
paper, Electricity Sector Market
Reforms : “[The] persistence of
underperformance of the power sector
in developing countries justifies calls for
reform.”
The paper highlights multiple concerns,
which include reservations about
ZESCO’s “efficiency and fairness” in
operating the power system. Some
stakeholders are calling for “radical
reforms” such as unbundling and
privatisation.
And as Finance Minister Hon. Felix
Mutati himself said in his 2017 national
budget speech, government will
conduct a “review of the overall
structure, governance and operations
of the sector, including generation,
transmission and distribution.”
This suggests that no aspect of the
power sector will be overlooked, and
nothing is being ruled out.
Reform starts with costs
While reform is inevitable, the outcome
of that reform is not. The shape a
newly reformed Zambian power sector
will take is impossible to imagine now.
It might involve privatisation and
unbundling to a greater or lesser
extent; or it might involve something
completely different. What is certain at
this stage is that no serious reform can
be contemplated until the cost of
producing electricity in Zambia is
known – for it this very cost that will
dictate the nature and extent of the
reform.
It will also determine the nature and
extent of any tariff increases, and will
ensure that these reflect the true cost
of providing an efficient, internationally
competitive service.
Mining sector’s vision on energy
“We in the mining sector have never
shied away from the reality of costreflective
tariffs. We are business
people, and costs are something we
deal with every single day,” says
Nathan Chishimba, President of the
Chamber of Mines. “We are committed
to tariffs that reflect the cost of
providing electricity in an efficient,
transparent and inter nationally
competitive manner. However, these
must be introduced in such a way as
not to destabilise the economy, but to
p ro m o t e c o n t i n u e d g r o w t h ,
employment and disposable income.”
A Brighter Future March 2017 Zambia Chamber of Mines
12
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A Brighter Future March 2017 Zambia Chamber of Mines
References
24
A Brighter Future March 2017 Zambia Chamber of Mines
1. “Energy and the mining industry” (2016), www.miningforzambia.com
2. “Electricity Explained: Factors influencing electricity prices”, US
Energy Information Administration, https://www.eia.gov
3. “Electricity Explained: Factors influencing electricity prices”, US
Energy Information Administration, https://www.eia.gov
4. “Electricity price statistics. Eurostat: statistics explained”, http://
ec.europa.eu/eurostat/statistics-explained
5. “How to kill an industry”; 24 March 2016; Handelsblatt
6. “UK industry ‘crippled’ by electricity costs twice as high as in
Germany”; 21 October, 2015; The Times
7. “Modi government’s new power plan: Heavy electricity users will now
pay lower tariffs”; 21 January, 2017, The Economic Times
8. “Tracking the trends 2016: The top 10 issues mining companies will
face in the coming year”, Deloitte, 2016
9. “Counting the kwacha”, (2016), www.miningforzambia.com
10. Sustainability Report 2015. Glencore.
11. “Zambia Economic Brief: Powering the Zambian economy”,
December 2015, Issue 6, World Bank Group
12. “Electricity sector market reforms: Getting it right in developing
countries – SADC”, Conference paper, March 2016, by Besa
Chimbaka, Energy Regulation Board
CONTACT DETAILS
Zambia Chamber of Mines, Mpile Office Park, 74 Independence Avenue, Lusaka
Tel: +260 211 258 383 / 258 384
Fax: +260 211 258 385
info@mines.org.zm
www.mines.org.zm