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Energy

Myanmar hikes electricity rates to fund grid investments

Blackout-prone country has some of Southeast Asia's cheapest power

A gas-fired power plant on the outskirts of Yangon: The World Bank estimates that the nation's peak electricity demand will more than triple by 2030. (Photo by Yuichi Nitta)

YANGON -- Myanmar will raise electricity prices for the first time in five years, with rates as much as tripling for households and nearly doubling for businesses.

The government's just-announced tariff increases take effect this coming Monday and will bring relief to money-losing utilities that have sold power for far below generating costs.

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