- Electricity prices will be increased by 4% thanks to permission given to Eskom to raise the electricity tariff
- The increase is meant to save the power utility from complete ruin and takes effect April 2019
- It is expected that before 2021, electricity prices can rise anything between 4% and 19%
Eskom has been given permission by the National Energy Regulator of South Africa increase the electricity tariff.
This comes after South Africans have been treated to petrol hikes in the last few months that left them angered.
The raised tariff is meant to help save Eskom from going down during the economic crisis it's currently in.
Eskom is in immense debt and irregular expenditure rocked the power utility and nearly brought it to its knees.
Eskom's debt is around R387 billion. It is expected that this will rise to about R600 billion before 2021.
The South African reports that there is another worry - dwindling coal supply that could possibly halt Eskom's operations.
Eskom has increased the electricity tariff with 4.1% and it will come into effect in April 2019.
NERSA is also considering another raise of 15%. According to analysts, South Africans can expect an increase in the middle of 4% and 19% in the coming years.
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