The Electricity Control Board has announced an eight percent bulk tariff increase for the 2017/18 financial year. The Control Board’s Chief Executive Officer, Foibe Namene says the increase will take effect on 1 July. Electricity tariffs will go up from N$1.49 to N$1.61 per kilowatt-hour, for distributors and municipalities buying from NamPower. Namene says the approved increase will help NamPower to cover its normal operational costs, cover part of last year’s under-recovery of costs, help the power utility to fulfill its financial obligations – and ensure a continued supply of electricity. NamPower’s financial obligations include payment to local, independent power producers. She also says the increase was approved to ensure the realisation of Vision 2030 and the Harambee Prosperity Plan. The ECB chief says electricity suppliers may only charge an increase that has been approved by itself.