Experts urge PML to engage investors in power sector

Hard Talk Energy, a grouping of energy experts, has challenged Power Market Limited (PML) to engage investors to invest in the country’s power sector.

Hard Talk Energy executive member Peter Mtonda, who is Electricity Supply Corporation of Malawi former acting chief executive officer (CEO), said this during a conference of energy experts in Mangochi recently.

He said: “Reforms in the energy sector spell out clear mandates that guide the operation of PML in power contract negotiations and agreements, as such, there is need for the company to speed up processes of engaging investors in the power sector.

“We appreciate the bottlenecks that PML has been facing when engaging Independent Power Producers [IPPs], but they must never relent because their existence is provided by the law.”

Natural Resources Justice Network chairperson Kossam Munthali said the country’s economy cannot improve if reforms in the energy sector are not fully implemented.

He said dependence on the monopoly of production of electricity and other functions in the power management and supply chain could push away potential investors in the power sector.

PML CEO Rosemary Mkandawire said they have legal mandate to continue engaging IPPs to remedy challenges of intermittent power supply.

She said PML, as the single buyer, will continue to negotiate viable contracts and sign power purchase agreements with potential investors to meet President Lazarus Chakwera’s vision to add 1 000 megawatts to the power grid by 2025.

“We will continue engaging potential investors in the power sector so that we can fulfill the vision, which is currently guiding our operations,” said Mkandawire.