265 Energy Limited has disclosed that prices for its gas stoves and accessories will not change despite the Reserve Bank of Malawi (RBM) devaluing the local currency by 44 percent to the US dollar.
The firm is a leading supplier of gas and solar equipment to provide alternative and renewable energy solutions to homes and businesses in Malawi.
The company’s public relations officer, Phillip White, said they made a decision to maintain the prices to cushion Malawians who are grappling with economic shocks emanating from the devaluation.
“As the country grapples with inflation and currency imbalances, the decision to maintain current prices reflects 265 Energy’s commitment to supporting Malawians during challenging times,” said White.
The 44 percent devaluation of the Malawi Kwacha was met with sharp and sudden increase in in basic commodities and fuel prices and electricity tariffs.
While some unscrupulous businesspeople have taken advantage of the currency fall to make quick and unjustified profits, 265 Energy Limited has assured its existing and prospective customers that it will not effect any change on prices for its products anytime soon.
“We want Malawians to find solace in the fact that 265 Energy’s own branded gas cooking accessories will remain affordable,” said White, adding: “265 Energy’s decision not to raise prices offers relief to households, providing a stable and cost-effective solution for cooking needs. The company’s dedication to keeping its products accessible aligns with the broader goal of assisting the public amidst economic uncertainties.”
White added that it was imperative that his company should not effect any change on prices of its products because Malawi Energy Regulatory Authority (MERA) has not raised the price of Liquefied Petroleum Gas (LPG), the fuel used in gas cooking.
He said this further contributes to the overall relief for Malawians who rely on gas for their cooking needs.
“As the country navigates through these challenging times, 265 Energy remains steadfast in its mission to provide reliable and affordable energy solutions. The decision not to increase prices demonstrates a corporate ethos that prioritizes the well-being of the community, especially during periods of economic unease,” said White.