The mayor of Cape Town, Geordin Hill-Lewis, was on Thursday quizzed about why the City implemented a 17.6% electricity tariff hike, which is more than the National Energy Regulator of South Africa's recommended 15.1% increase. | MarvinCharles_
Geordin Hill-Lewis said the City of Cape Town would be bankrupt if it didn't implement an increased electricity hike.Residents were left fuming after the City implemented a 17.6% hike.
Responding to questions from the leader of the Cape Muslim Congress, Yagyah Adams, during a council sitting, Hill-Lewis said:"We spend about R1 billion a month on our Eskom bill. Over a year, Eskom makes up more than a third of our entire City budget. Hill-Lewis added that, if the City had to absorb a large portion of the increase and not pass it on to residents, it would be bankrupt. We have shown that the 2% difference that Nersa recommended and council had approved equates to a R500 million gaping hole in our City budget.The City implemented its budget for the 2023/24 financial year on 1 July, with a capital expenditure budget of a record R69.9 billion.
"Nersa does not take into account the costs municipalities have. It's an irresponsible financial decision and threatens the City's financial sustainability," he said. GOOD's Anton Louw said:"Many Capetonians, like their sisters and brothers elsewhere in the country, are suffering the profound indignities of unemployment and extreme poverty. Many South African homes are barely lit, not because of load shedding, but because residents can't afford to buy any units.
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