Eskom

Struggling power utility Eskom is seeking an average power tariff increase of just over 32% for the financial year starting 1 April 2023. Photo: Marco Longari / AFP

Eskom seeks MASSIVE price hike from 1 April 2023 – sadly NO April Fool’s joke!

Struggling power utility Eskom is seeking an average power tariff increase of just over 32% for the financial year starting 1 April 2023.

Eskom

Struggling power utility Eskom is seeking an average power tariff increase of just over 32% for the financial year starting 1 April 2023. Photo: Marco Longari / AFP

Struggling power utility Eskom is seeking an average power tariff increase of just over 32% for the financial year that starts on 1 April 2023.

Sadly, that’s no April Fool’s joke!

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In its most recent price determination application to the National Energy Regulator of South Africa (Nersa), Eskom said the tariff hikes would cover emerging costs.

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The power utility said that depreciation due to an incorrect asset valuation by the energy regulator, increases in diesel and fuel oil prices, and the cost implications of independent power producers all contribute to its 32.02% application.

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The last increase granted to Eskom was 9.61% on 1 April 2022. The power utility had applied for a 20.5% increase.

Eskom will get the thumbs up – or down – in November

Nersa has said it intends to announce its decision on Eskom’s tariff application in November.

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It rarely allows Eskom the full increase it applies for, with disputes between the two often ending up in court.

The size of its new request means electricity users in the country, already grappling with a cost of living crisis, could face much higher power bills next year.

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