Eskom's bid to hike electricity prices dismisHed and Mzansi is loving it

Eskom's bid to hike electricity prices dismisHed and Mzansi is loving it

- Eskom has lost its urgent court bid to significantly increase the prices of electricity over the next two years

- The Pretoria High Court dismissed the bid, adding it was not urgent and would be heard on the normal court roll

- South Africans welcomed the news and we took a look at some of the reactions

PAY ATTENTION: Click “See First” under the “Following” tab to see Briefly.co.za News on your News Feed!

On Monday, the Pretoria high court found Eskom's bid to hike electricity prices was not urgent and could wait to be heard on the normal court roll.

TimesLIVE reported the power utility hoped to raise electricity prices by 16.6% and another 16.7% over the next two years.

Eskom filed an urgent case to try and set aside a 2019 decision by the National Energy Regulator (Nersa), which approved increases of 8.10% and 5.22% for these years.

According to an affidavit by Eskom CFO Calib Cassim, Nersa's rates would cause “catastrophic harm to Eskom and the national economy”.

However, Judge Jody Kollapen found the power utility could not prove that without the high price hikes that it was at risk of defaulting on its R441 billion debt.

READ ALSO: R114 million Powerball winner ready to flaunt wealth in front of ex

South Africans could breathe a sigh of relief as they welcomed Kollapen's ruling and Briefly.co.za took a look at some of the reactions.

Twitter user, @PamelaSalalah, wrote:

"Eskom's urgent court bid to hike electricity prices is dismissed. Thank you for small mercies."

Enjoyed reading our story? Download BRIEFLY's news app on Google Play now and stay up-to-date with major South African news!

Source: Briefly.co.za

Mailfire view pixel