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Government predicts USD 106 bln strategy for energy by 2050


Africa Newswire  

 

    31 May 2023 (Angola Press News Agency) The government announced a total investment of US$106 for electricity sector by 2050, according to the proposed goal as part of the Long-Term Strategy (ELP Angola - 2050).

    The document, which does not show the amounts invested in 2022, predicts that US$15 billion will be invested by 2030 and a total of US$106 billion until 2050.

    In order to attain the vision of increasing electrification, it will be necessary to invest in renewable energies and stimulate private initiative in the energy sector.

    The strategy points to solutions such as rationalising the system and making it financially sustainable, adjusting tariff subsidies and reducing commercial losses, expanding the on-grid/on-grid system and universalising access to electricity and creating off-grid/off-grid solutions.

    In this chapter on solutions, the document indicates that the system will be rationalised to ensure financial sustainability, reviewing tariff subsidies and reducing commercial losses.

    As for electricity prices, the ELP refers to a convergence with the real costs of the system.

    The ELP has also announced defined that will progressively reduce the level of tariff subsidisation, considering different price models to guarantee a tariff revision that does not compromise the social balance, resorting, namely, to the adjustment of consumption tariffs.

    When reviewing tariffs, within the scope of the strategy, vulnerable groups such as low-income families, pensioners and disabled citizens will be taken into account, applying compensatory measures to avoid harmful effects.

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