South Africans brace for impact as Eskom implements a substantial electricity tariff increase.
South Africa’s embattled state-owned power utility raises its tariffs today, increasing electricity prices by an average of 18.65%.for the increase two weeks ago, incorporating a last-minute change from Eskom.
Eskom has clarified that these large industrial and urban customers exclude municipalities. Therefore, regular home users in towns and cities with municipal governments should not see increases above 18.65%. Eskom’s price increase kick in when its new financial year starts in April, but the municipalities may only increase their prices in July.
Nersa noted that its approved tariffs exclude value-added tax, which the government currently has at 15%. By the turn of the century, Eskom was still profitable despite the selling price for electricity only rising slightly to 13.23c per kWh. Over the next twelve years, it increased by 472% to 111c per kilowatt-hour . It was the most rapid price increase in history and far exceeded inflation.
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