NERSA to announce electricity price hike amid Eskom loadshedding saga

NERSA to announce electricity price hike amid Eskom loadshedding saga

Today South Africans will hear how much they can expect to pay for electricity over the course of the next three years. NERSA will be announcing whether or not Eskom will get its proposed 15% tariff increase today in Pretoria.

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The National Energy Regulator of South Africa (NERSA) will announce today how much the price of electricity will rise over the next three years.

Eskom has applied for a 15% tariff increase, every year, resulting in a total increase of 45% by the 2021/2022 financial year.

These hikes are way above the 4% consumer price index in January. Businesses, labor and civil groups and written submissions have all opposed the crippling move.

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READ ALSO: Explainer: How did SA and Eskom get into the current loadshedding mess?

Briefly.co.za reported earlier that Eskom had been battling to meet supply demand, with Stage 4 loadshedding implemented for the first time in February. The entity looks set to split into three separate components, namely generation, transmission and distribution.

The power entity is facing R420 billion worth of debt, with Treasury handing out R23 billion a year for the next three to attempt to stabilise the utility's finances.

According to The Citizen, NERSA's decision today will not be affected by the unbundling at all:

"The allowable revenue can be split into the three businesses. Once the unbundling takes off then the allowed revenues will be split accordingly into the three businesses."
"The Minerals Council of South Africa is adamant, should the tariffs be approved, the mining industry will face heavy losses and 150 000 jobs will be cut."

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Source: Briefly.co.za

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