Nersa has approved the electricity price hikes for municipalities.
After granting Eskom a 18.65% price hike in January, the national energy regulator Nersa has now approved a 18.49% hike for municipalities.
Municipalities will experience a slightly lower hike at 18.49% because they will not experience an increase in the first three months of Eskom’s financial year – their financial year starts on 1 July.The regulator added that tariffs exclude value-added tax as the Minister of Finance Enoch Godognwana determines the rate.Eskom will ensure that its approved Schedule of Standard Prices for 2023/24 is published on its website and communicated to all customers, it added.
However, the Nersa approval is final and can only be undone through legal processes. The president subsequently walked back on his comments, acknowledging the regulator’s independence. To help address its financial issues, National Treasury has agreed to take on R254 billion of Eskom’s debt over three years. R168 billion in the form of capital and R86 billion will be in interest.
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