Nersa approves electricity tariff increase
The National Energy Regulator has announced it has granted an additional 9.4 percent power increase to Eskom.
NERSA Chairperson Jacob Modise said at a press briefing on Tuesday the additional increase will be for the 2016/2017 financial year only.
Eskom applied for a 16.6 percent increase to make up for money spent three years ago to avoid load shedding.
Modise, however, said they had to balance the application with the burden it would have on consumers, who are already under pressure.
Eskom has applied for an RCA balance of R22.8 billion.
Modise said the decision was made that the Regulatory Clearing Account (RCA) balance of R11.2 billion be recoverable from standard tariff customers, local pricing agreements and international customers.
"The amount of R10.3 billion be recoverable from standard tariff customers for the 2016/2017 financial year only," he said.
Modise said Eskom had to submit a new Multi-Year Price Determination application within three months based on a revised assumption and forecast which would reflect recent circumstances.
Reporting by Samkele Maseko
Edited by Suné du Toit