LUSAKA, Dec. 27 (Xinhua) -- Zambia's Energy Regulation Board has approved the state power utility's plan to raise electricity tariffs from next Wednesday, an official has said.

File photo: VCG

Zesco Limited will be allowed to increase tariffs for household and commercial consumers by about 200 percent and 49 percent respectively.

Raymond Mpundu, chairperson of the energy regulator, announced in a statement on Thursday that the new tariffs will come into effect on Jan. 1, 2020.

He said the move is meant to help the power utility to operate efficiently and viably.

"Zesco is facing serious financial problems with regard to its profitability, liquidity, solvency and efficiency," Mpundu said.