Moneyweb
The National Energy Regulator of South Africa has approved an 18.65% tariff increase for electricity tariffs from 1 April.
Nersa made the much-anticipated announcement on Thursday after the embattled power utility had applied for a 32% tariff increase for the 2023/24 financial year which starts in April.
Chairperson, Thembani Bukula said Nersa approved a total allowable revenue of R300 billion for the year 2023/2024 financial year.
“This translates to 173.80 cents per kilowatt hour, which translates to a percentage increase of 18.65% based on the currently approved Nersa tariff of 146.48 cents per kilowatt hour for the year 2022/2023," he said.
Bukula said for the year, 2024/2025, Nersa approved revenue of R334 billion, which translates to 195.95 cents per kilowatt hour, resulting in a 12.74% increase based on the year of the approved tariff previously.
He said the energy regulator would consider the Eskom retail tariff structure amendments that will be submitted by Eskom after this approval.
Bukula said Nersa attempted to strike a balance between Eskom's financial sustainability issues, the impact on the economy, and the affordability of electricity services to customers," he said.
