The Energy Regulation Board (ERB) says the country will not experience fuel shortages due to dwindling fuel stocks.
Addressing journalist in Lusaka Board Director General Langiwe Lungu clarified that while the fuel stocks have dwindled below the 15 days stock levels, the country is not in danger of completing running out of the commodity.
Ms. Lungu said as a mitigation measure, the Board has given waivers to oil marketing companies who are bringing in more fuel, adding that private depots too have adequate stocks.
“In Zambia we have a time lag we import our fuel from the Middle East, so if the commodity prices came down today we would not have mediate benefits because we will have to exhausts the fuel cargo that we have in the country in order to purchase the other fuel on a reduced price,” Ms Lungu said.
Meanwhile the ERB Director General has also disclosed that the completion of the cost of service study being undertaken by Energy Market and Regulatory Consultants of UK has been extended to March to 2021 owing to the outbreak of the Corona Virus which has restricted the pace the study is being undertaken.
She noted that the consultant has however successfully delivered on three of the twelve tasks.
“The completion of the cost of service study being undertaken by Energy Market and Regulatory Consultants of UK has been extended to March to 2021 due to the outbreak of the Corona Virus which has restricted the pace the study is being undertaken,” she said.