South Africans must prepare themselves for a hefty electricity price increase this year.
Energy regulator, Nersa is set to announce how much Eskom can push up its tariffs. The power utility has said that it wants an increase of 32%. It’s apparently seeking to recover R351 billion for the 2023/24 financial year and a further R381 billion in 2024/25.
Nersa’s decision has been delayed at least three times due to certain numbers not tallying up.
The public, several municipalities and others have objected to Eskom’s application for an increase saying its unjustified and unaffordable. It will further burden consumers, who are already struggling to keep afloat as well as small to medium businesses that are still trying to recover from the pandemic and don’t have the capital to purchase alternative sources of energy amid Eskom’s crippling rolling blackouts.