Namibian electricity producer price down by 23.9%

Namibia is a net importer of power from South Africa.

29 June 2020 | Business

Namibia's electricity producer price drastically went down by 23.9 percent in the first quarter of this year compared to a 2.9 percent shrink in the same period in 2019, the Namibia Statistics Agency (NSA) said on Thursday.

Namibian statistician general, Alex Shimuafeni said the 23.9 percent deflation indicates that the price of electricity in Namibia drastically went down during the period under review to the benefit of consumers despite the country being a net importer of power from South Africa.

He also added that the reduction is also in line with the decreased demand for power in the Southwest African country.

The NSA released the first Producer Price Index for Namibia covering data on water production sector, cement production and electricity production to assess the changes in producer prices in the key sectors.

"The percentage change of Producer Price Index for water collection and supply, water treatment and supply stood at 6.1 percent in the first quarter of 2020 compared to the same period in 2019 when it increased by 11 percent," he said. – Nampa/Xinhua

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