The latest weekly letter from Cyril Ramaphosa looks into the energy crisis.
President Cyril Ramaphosa says the government is considering additional mechanisms to deal with the rising cost of electricity in light of the recent 18.65% electricity tariff increase granted by the National Energy Regulator of South Africa that is set to add pressure to already cash-strapped South Africans.
He said that tariffs that reflect the cost of producing electricity are necessary for Eskom’s financial sustainability and for the power utility to be able to service its debt and take on critical maintenance that is much needed to end load shedding. “This is the problem we face: we have to ensure that Eskom has the resources it needs to resolve the electricity crisis while protecting South Africans from the effects of higher prices.
“We should be wary of short-term solutions that we will regret in the years to come,” added Ramaphosa.
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