Electricity prices to increase by 9.41%, says Nersa | Fin24
The National Energy Regulator of South Africa has approved electricity hikes of 9.41%, 8.1% and 5.2% for the next three financial years, far below Eskom’s application for double-digit tariff increases.
Nersa chairperson Jacob Modise said the regulator received 119 000 written comments on Eskom’s application and held public hearings in seven out of the nine provinces.The Minerals Council of SA warned that the energy-intensive mining industry could shed 150 000 jobs if the Eskom application was granted.
The regulator also previously confirmed that the decision to separate Eskom into three seperate entities - generation, distribution and transmission - would not affect its price determination. Eskom, which is R420bn in the red, received a lifeline in the February budget speech of R23bn every year, for the next three years from National Treasury.
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