President Ramaphosa said there was a need to balance tariffs that reflect the cost of producing electricity with the need to cushion South Africans from the rising cost of living.
The recent announcement of an increase in electricity tariffs comes at an extremely difficult time for citizens and businesses alike, who are already contending with the high costs of fuel, food and other essentials.
Tariffs that reflect the cost of producing electricity are necessary for Eskom’s financial sustainability and for the utility to be able to service its debt and to undertake the critical maintenance that is needed to end load shedding. There is no simple answer to this problem. That is why all stakeholders, including government, Eskom, business, labour and communities, need to work together to achieve a very difficult balance. At all times, we must be guided by the needs and interests of South Africans, especially the poor, both now and into the future. We should be wary of short-term solutions that we will regret in years to come.
The national minimum wage, which was introduced in 2019, has improved the remuneration of many workers, especially farmworkers, domestic workers and other vulnerable workers. All of these measures provide an important ‘social wage’ that has helped to cushion poor households from the worst effects of rising prices. Government is considering additional mechanisms to address the rising cost of electricity. These include measures such as helping households and small businesses install solar power and energy saving devices, supporting households with rechargeable lights, and working with learners to catch up where load shedding interrupts lessons.
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