THE latest Auditor General’s report on parastatal bodies has revealed that Zesco incurred interest charges of $70,639,770.65 in 2022 and $85,394,669.90 in 2023 due to delayed payments to Independent Power Producers. Meanwhile, the report disclosed that Zesco’s profitability reduced by K25,031,472,000, from a profit of K8,582,428,000 in 2021 to a loss of K33,613,954,000 in 2023. According to the report, Zesco management attributed the delays in paying Independent Power Producers to liquidity challenges resulting from uneconomical tariffs. “Power Purchase Agreements (PPAs) are contracts between a seller and a buyer of electricity in bulk quantities. ZESCO Ltd entered into Power Purchasing Agreements with Independent Power Producers namely; Electricidade de Mozambique, Itezhi Tezhi Power Corporation, Lunsemfwa Hydro Power Company Limited, Karpower, EDM and...