The Copperbelt Energy Corporation says the power purchase agreement between the Corporation and the power utility firm entered into in November 1997 will expire on 31st March, 2020.

According to a statement posted on their website and obtained by Money FM News, the Corporation told its shareholders and the market that this follows government’s decision that the Bulk Supply Agreement will expire on the agreed date and will not be renewed.
“In accordance with Section 81(1) of the Securities Act No. 41 of 2016, the Board of Directors of Copperbelt Energy Corporation advises the Company’s shareholders, and the market, that the power purchase agreement or Bulk Supply Agreement (“BSA”) between CEC and ZESCO Limited (“ZESCO”), entered into on 21 November 1997 is expected to come to an end on 31 March 2020,” the statement read.

The statement further said the Energy Corporation will from now on continue working with the power utility firm and government with the aim of arriving at a mutually acceptable solution after the expiry date
The Energy Corporation has emphasized its unwavering commitment to use its infrastructure and capabilities in ensuring continued supply of power to all consumers on the Copperbelt even after the power purchase agreement expires.