Eskom’s 32% electricity price hike

GAUTENG – Eskom has asked the National Energy Regulator of South Africa (NERSA) to approve a 32.02% electricity price increase for the 2024 financial year, to take effect from 1 April 2023. In its most recent price determination application to the National Energy Regulator, Eskom said the tariff hikes would cover emerging costs.

The last increase granted to Eskom was 9.61% for the year 2022. However, Eskom applied for a 20.5% increase. 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.