Brace yourselves… a 9.4% elect

Brace yourselves… a 9.4% electricity price hike is coming

Right in time for winter… an electricity price hike will come into effect as of 1 April. No, that’s not an April Fool’s joke.

Brace yourselves… a 9.4% elect

The National Energy Regulator (Nersa) said on Tuesday it has approved a 9.4 percent electricity tariff increase for power utility Eskom for the 2016/2017 financial year.

That means from April this year, you will be paying quite a bit more for your electricity… right in the time for winter. Eskom hopes that the price hike will help them recover R11.2 billion from standard tariff customers.

While the hike is not quite as hectic as the 16.6% increase Eskom had applied for, it’s still quite a bit.

ANA reports that at least six public hearings were held on the application to increase tariffs, which was vehemently opposed by civil organisations, businesses, unions and individuals. It was argued that with the economy in such dire straits, the increase would simply be unafforable and palce too much of a burden on cosumers, especially on lower income households.