As South Africans try to come to terms with Wednesday’s fuel price hikes, they also have to face the reality of Eskom electricity tariffs increasing 8.76% from the same day.
The increase takes immediate effect for Eskom’s direct customers, while municipalities that buy electricity in bulk will implement the new tariffs from July 1. Municipalities face an increase of 9.01%.
Eskom said customers who receive electricity through municipalities will have to wait for communication from their local authorities about when the higher prices will apply.
The tariff hike comes as South Africans face rising fuel prices, adding further pressure to the cost of living.
Eskom Group CFO Calib Cassim said the utility is working to keep future tariff increases within reasonable levels, while acknowledging affordability challenges faced by households and businesses.
“The tariff increase supports Eskom’s ability to provide a stable and reliable electricity supply. Eskom’s revenue requirement covers the cost of generating, transmitting, and distributing electricity while migrating towards a fair return needed to maintain and invest in critical infrastructure,” Cassim said.
He added that the National Energy Regulator of South Africa considered customer affordability and the long-term sustainability of the electricity system when approving the increase last month.
Sowetan