Angola to raise power tariffs following IMF accord

Angola has published an action plan for the energy and water sectors covering the period 2018-2022. The plan aims to raise total installed capacity to 7.5GW in 2022 from 6.4GW in 2018 by expanding the role of gas and renewables, mainly solar. Tariff increases are planned in the new year in an attempt to eliminate subsidies for the power sector. Speaking at an investor roundtable in London on 14 December, energy minister João Baptista Borges said domestic tariffs would rise to around 10 kwanza ($0.03)/kWh from 3 kwanza/kWh at present. The International Monetary Fund (IMF) on 7 December approved an Extended Arrangement under the Extended Fund Facility aimed at supporting economic reforms under way since President João Lourenço took over from veteran leader José Eduardo dos Santos in September 2017.