18.65% Eskom tariff increase

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South Africans can’t afford 18.65% Eskom tariff increase

You will be paying more for electricity you do not have from April 1 after the energy regulator granted embattled power utility Eskom a staggering 18.65% tariff increase yesterday, much to the dismay of hard-pressed consumers.

National Energy Regulator of SA Announcement

National Energy Regulator of SA (Nersa) announced it had reached a decision to grant Eskom an 18.65% increase for its 2023/2024 financial year. Eskom was also granted a 12.74% increase for the 2024/2025 financial year. This year’s increase, according to energy expert Ted Blom, will cost an additional R200 to R400 a month on electricity bills depending on where you live.

Eskom-supplied customers will be the first to feel the pinch on April 1, while municipal supplied users will wait until councils approve their tariff increases. 

The cash-strapped power utility, which ramped-up load-shedding to stage 6 this week, had applied to the regulator for a 32% increase last year.

The regulator said its decision sought to balance the needs of Eskom and consumers.

The increase in electricity prices is likely to add salt to the wound of consumers who have been hit by increases in fuel prices, food inflation, interest rate hikes and high levels of unemployment.

Nersa has approved a more than 18-percent hike for the price of electricity. The increase will kick in from April this year for direct customers while those who buy their power through their municipality can expect the increase a little later. For more, eNCA speaks to the mayor of Cape Town, Geordin-Hill Lewis.

Video credit: eNCA

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