Electricity set to rise by 9.41 per cent
The National Energy Regulator of South Africa (Nersa) approved electricity hikes of 9.41 per cent, 8.1 per cent and 5.2 per cent for the next three financial years.
SOUTH AFRICANS still reeling from the whopping 74 cents petrol price hike on Wednesday found out yesterday that electricity prices are set to increase by 9.41 per cent. The National Energy Regulator of South Africa (Nersa) approved electricity hikes of 9.41 per cent, 8.1 per cent and 5.2 per cent for the next three financial years.
Eskom had applied for price hikes of 17.1 per cent or 2019/20, 15.4 per cent for 2020/21 and 15.5 per cent for 2021/22.
Nersa said they made the decision after conducting the due regulatory process, which included publishing Eskom’s applications and inviting written comments from stakeholders from 19 October 2018 to 30 November 2018.
“The Energy Regulator also conducted public hearings in seven of South Africa’s nine provinces between 14 January and 5 February 2019. This was to afford interested and affected stakeholders the opportunity to present their views, facts and evidence. The Energy Regulator has, in arriving at this decision, balanced both Eskom’s interests and those of the public in line with section 2(b) of the Electricity Regulation Act,” they said.
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