Electricity tariff hike
Eskom customers to pay more for power as electricity tariff hike kicks in
A tariff hike for municipal customers comes into effect in July.
The National Energy Regulator granted the power utility the increase in February. Eskom initially sought a tariff hike of 20.5 percent.
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The increase is for 2022/2023 financial year and is set to take effect from 1 April this year.
The High Court has ruled that Eskom can now raise a further R10 billion as part of its allowable revenue for the current year.
Earlier this year, the National Energy Regulator of South Africa gave the City the green light to increase electricity tariffs to R1,52 a unit.
AfriForum took the municipality to court challenging the decision to introduce the hikes.
The regulator says it's studying that motion and will decide its next step within the time allowed by the High Court.
Last week, the African National Congress (ANC) voted against the increases while the Economic Freedom Fighters (EFF) abstained.
The proposed average tariff increase for water, sewerage and sanitation is 14.2% while the refuse tariff is projected to increase by an average of 6.8%.
The union says the tariff hike is likely to result in some companies shutting down, leading to more job losses, and in turn stifling economic growth.
South African Communist Party (SACP) General Secretary Blade Nzimande was briefing the media following the party's central committee meeting which was held this weekend in Ekurhuleni.
Nersa held a briefing in Pretoria on Thursday afternoon where it announced the revenues the parastatal is able to recover from consumers.
After the petrol hike, electricity, water and other municipal services are also expected to rise within weeks.
An economist fears consumer's pockets won’t ease with recent increases in fuel, electricity & food.
While electricity tariffs increase by 8 percent the petrol price takes a leap later this week.
The power utility says the tariff hike is needed to strike a balance for the country’s infrastructure.