Ricochet News

Electricity tariffs going up from April

Electricity tariffs going up from April

The National Energy Regulator of South Africa (Nersa) has approved a 9.4% hike in electricity tariffs for the 2016 / 2017 financial year only.

Last month, the regulator hosted a series of public participation events in Cape Town, Port Elizabeth and Durban, after Eskom announced in November it would submitting in application for a 16% increase in electricity prices, in order to recover an estimated R22.8-billion lost during the 2013 / 2014 financial year.

In June, the regulator rejected the struggling state-owned parastatal’s application for a bigger 25% hike, citing a lack of clarity on a number of key points and uncertainty over multi-year pricing determination as the main reasons. The new adjusted price is expected to come in to force from April first.