Future looks 'bleak' for SA consumers, says economist
Efficient Group economist Dr Francois Stofberg says the future looks dark for South African consumers.
This as municipalities across the country begin hiking their electricity and municipal rates.
Stofberg says the future is looking bleak for millions of consumers.
“Over the last year we saw a 14.4% increase which was reported by Stats SA last month. So, we are going to see something like that tune. That is something that we are going to have to live with if you want to call it like that.”
The electricity price hikes power come as Eskom implements stage 6 load shedding due to a lack of generating capacity.
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Eskom lost 10 generation units, mostly due to strikes by workers.
Stofberg says the annual increase in electricity prices is not something that will be curbed soon.
“The rate increase is something that you should be concerned about because we are most likely to see increases if this massive inefficiency at Eskom continues.”
