Loadshedding has been the root of frustration for South Africans, and could still be with us for years to come. And while December is already looking bleak, next year doesn’t look too promising either.
The state-owned power utility, Eskom, has reportedly applied for an electricity price increase of 20.5% for its 2023 financial year, which was confirmed by Chief financial officer Calib Cassim and will commence on April 1 2022.
This information was confirmed following a press release where it was said that National Energy Regulator of South Africa (Nersa) “has misrepresented Eskom’s revenue application”.
NERSA misrepresents Eskom’s Multi-Year Price Determination (MYPD 5) application for the 2023 Financial Year
(Supporting documents available on our website: https://t.co/LSRsth0SR9 ) pic.twitter.com/Pif5Pja1l7
— Eskom Hld SOC Ltd (@Eskom_SA) December 8, 2021
“Nersa has published Eskom’s fifth Multi-Year Price Determination (MYPD 5) revenue application for the 2023–2025 financial years,” the power utility expressed.
“The recent High Court judgement requires Nersa to process this MYPD 5 revenue application for the Financial Year 2023. The remaining two years’ application is still the subject of a court review application. This is referred to as the Part B of the review application.”
According to MyBroadband, Nersa also issued a statement revealing that Eskom’s revenue application amounts to R279 billion for 2022/23, R335 billion for 2023/24, and R365 billion for the 2024/25 financial year.
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Picture: Supplied
