The National Energy Regulator of South Africa (Nersa) has declined Eskom’s application for a 25.30 per cent price hike which made consumers sigh with relief.
Nersa chairperson Jacob Modise said it was declined due to the fact that the application did not comply with various municipal acts.
Although the government did say it will give Eskom a R23 billion capital injection and a R60 billion loan Public Enterprises Minister Lynn Brown said Eskom will have to find alternative venues of funding.
The decision was praised across the board.
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