In accordance with section 3.4(a) of the Lusaka Securities Exchange Listings Requirements (“LuSE Listings Requirements”), the Board of Directors of the Copperbelt Energy Corporation PLC (“CEC”) or (“the Company”) wishes to inform the shareholders of the Company, and the market, that the Energy Regulation Board (“ERB”) has granted regulatory approval of the new bulk supply agreement (“BSA”) to be entered into between CEC and ZESCO Limited (“ZESCO”).
Following the initialling of the BSA by CEC and ZESCO on 6 April 2022, an application for regulatory approval was lodged with the ERB in accordance with the relevant provisions of the Electricity Act, 2019. The Board advises that the ERB has granted its approval of the BSA, paving way for CEC and ZESCO to proceed to sign the agreement.
The new BSA is a successor to the previous agreement that expired on 31 March 2020. It anchors the commercial terms for the mutual provision of services between CEC and ZESCO.
By Order of the Board
Julia C Z Chaila
Issued in Lusaka, Zambia on Wednesday, 8th June 2022