The National Energy Regulator of South Africa (Nersa) has released Eskom’s contentious multi-year revenue proposal, which extends to 2028, Cape {town} Etc reports.
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In August, Eskom proposed significant tariff increases of 36.15% for the 2026 financial year, followed by 11.81% in 2027 and 9.10% in 2028. This follows a 12.74% increase granted for the current fiscal year, ending March 2025, for customers billed directly by the utility.
During a meeting on Monday, Nersa’s electricity subcommittee approved the timeline for processing this application, which is expected to take around 126 days, with a decision anticipated by mid-March 2025. Public hearings are scheduled across various provinces from 18 November to 4 December.
These proposed increases have already drawn criticism, particularly after a report in June indicated Eskom’s intentions to seek substantial hikes in electricity tariffs. The Democratic Alliance (DA) has initiated a petition opposing the proposed increases. Eskom’s total revenue request includes R446 billion for 2026, R495 billion for 2027, and R537 billion for 2028, aimed at recovering its allowable revenue.
The figures could be adjusted further, taking into account the Regulatory Clearing Account (RCA), which allows Eskom to recover revenue shortfalls from previous years. Eskom is seeking nearly R24 billion for 2022 and R9 million for 2023, with Nersa yet to make final decisions on these amounts.
According to News24, if approved, the tariff adjustments would lead to a staggering 43.55% increase for municipalities starting July 2025, followed by increases of 3.36% in July 2026 and 11.07% in July 2027.
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