»Prepare for confirmation of a big electricity increase THIS WEEK«
After holding a meeting on Wednesday, January 12, 2023, the energy regulator Nersa will ultimately announce how much power company Eskom can increase electricity tariffs later in 2023.
According to BusinessTech, the declaration followed multiple delays on the part of Nersa, which was meant to render a final verdict on Eskom’s bid to increase tariffs in November 2022.
Eskom proposed a 32% rate increase for 2023, which, when combined with court-ordered backlogs, may cause electricity prices to increase by over 38% by the middle of the year.
Ouch!
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Nersa was anticipated to announce its approval or rejection of the application by the end of November 2022, but instead postponed its decision until December 14.
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The panel determined that further time was required to process the numbers and deferred the decision to January 12th.
According to Nersa, the decision-making process required “considerable guidance.”
»Prepare for confirmation of a big electricity increase THIS WEEK«