By Rorisang Modiba
South Africans will pay 12.7% more for their electricity from April Fool’s Day – and no, this is not a joke.
The National Energy Regulator of South Africa (Nersa) agreed in January 2023 to Eskom raising its electricity prices for 2024/25.
In the last two years, electricity prices have gone up by 33.8%.
Nersa approved budgets of R318-billion for 2023/24 and R352-billion for 2024/25.
Calib Cassim, the chief financial officer at Eskom, said the budget will help get electricity prices to better reflect the real cost of creating it.
“The revenue determination of R319-billion and R352-billion for the financial years 2024/5 will allow a further migration towards a price level that reflects the efficient cost of producing electricity,” said Cassim, MyBroadband reported.
Both Eskom and Nersa agree on the need to improve power station performance.
The DA and the South African Local Government Association challenged the price increase in court, but the High Court sided with Nersa in December last year.
Homeowners will see their electricity bills rise from 1 April with increases based on usage levels from 600kWh to 1,500kWh per month.
Pictured above: Eskom
Image source: File
