Nersa declines Eskom tariff hikes

The National Energy Regulator of SA (Nersa) declined Eskom’s request for an additional increase in electricity prices on Monday.

Making the announcement in Pretoria before assembled media and officials, chairperson Jacob Modise said there were several reasons as to why Nersa has turned down the application.

Eskom asked Nersa to approve a 9.58% price hike. This would have brought the total increase this year to over 22% after prices also rose in April. The International Monetary Fund also warned last week that severe electricity shortages had become the greatest obstacle to South Africa’s growth.

Read more: www.fin24.com

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