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The Energy Regulation Board (ERB) is currently reviewing a new fuel pricing model that addresses concerns raised by consumers and Oil Marketing Companies (OMCs) regarding fuel pricing.
ERB Director of Economic Regulations, Alfred Mwila, announced that the Import Parity Pricing Model was under constant review by stakeholders.
The goal is to balance consumer interests with the business needs of OMCs.
Mwila made these remarks on Wednesday in Lusaka during an Economic Dialogue Forum on the Fuel Price Model in Zambia, organized by the Zambia Chamber of Commerce and Industry (ZACCI).
This initiative aimed to address key policy, regulatory, and operational challenges in Zambia’s energy sector.
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Mwila stated the importance of a responsive pricing model.
“Our aim is to provide a robust and responsive pricing model.
“The Import Parity Pricing Model is undergoing thorough scrutiny because it is intended to become law. A consultative process is crucial, as once it becomes law, it will be in effect for a long time,” he said.
During the meeting, OMCs urged the government to address the disparities between the actual cost of importing fuel and the prices set by the ERB.
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