It’s not what overburdened consumers wanted to hear, but they should get used to it:the National Energy Regulator , Nersa, has granted Eskom permission to raise tariffs next year by over 8% .
The move is aimed at enabling Eskom to recover R7.8bn in revenue from consumers after its costs exceeded projections between 2010 and 2013, explained Nersa’s spokesperson, Charles Hlebela.
“The percentage tariff adjustment that this will result in has not yet been determined and it has not yet been concluded whether it will be a once-off adjustment or not,” Hlebela said, shedding more light.
Raising rates is the only feasible option Eskom has at its disposal to raise funds to build power stations in order to meet rising demand. The country is paying the price for failing to boost capacity soon after 1994, with ‘load shedding’ now accepted as the norm.
Naturally, already bracing for rise in commodity prices and high interest rates, consumers are worried, as higher power tariffs are likely to aggravate inflation.