Escom in fresh bailout rebuff - The Nation Online

Escom in fresh bailout rebuff - The Nation Online: It never rains but pours for Escom as Treasury has yet again rejected its K58 billion bail-out request to enable the technically insolvent utility improve its operations and provide reliable power supply. Treasury’s fresh rejection of the Electricity Supply Corporation of Malawi (Escom) demand follows a K58 billion request the parastatal made in May this year to improve efficiency. It Escom said it largely found itself in the precarious financial position after its split that gave birth to Electricity Generation Company (Egenco) on January 1 2017 as part of the Power Market Restructuring Programme aimed at improving efficiency in the market by, among others, creating separate power generation and distribution entities to spur investment in independent power producers (IPPs)