Nersa electricity

Energy regulator Nersa is set to finally make an announcement on how much Eskom can hike electricity prices in later in 2023. Photo: Pixabay

Brace yourself for confirmation of massive electricity hike THIS WEEK

Energy regulator Nersa is set to finally make an announcement on how much Eskom can hike electricity prices in later in 2023.

Nersa electricity

Energy regulator Nersa is set to finally make an announcement on how much Eskom can hike electricity prices in later in 2023. Photo: Pixabay

Energy regulator Nersa is set to finally make its announcement on how much power utility Eskom can hike electricity prices later in 2023 after it met on Wednesday, 12 January 2023.

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According to BusinessTech, the announcement follows several delays by Nersa who was supposed to make its final decision on Eskom’s application to hike prices back in November 2022.

Eskom’s submission applied for a 32% tariff hike in 2023, which, when added to court-ordered backlogs, could see electricity prices climb by over 38% around the middle of the year.

Ouch!

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Nersa was expected to announce its decision to approve – or dismiss – the application at the end of November 2022, but instead postponed its ruling to 14 December.

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The subcommittee then decided that more time was needed to process the numbers and further pushed the decision to 12 January.

According to Nersa, the delay was due to “a lot of guidance” needed in making the decision.

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