FMF FEATURE ARTICLE
South Africa’s electricity price is a thumb-suck
President Cyril Ramaphosa has pleaded with Eskom not to implement its planned 18.65% tariff hike in April this year. In a speech at the ANC’s Free State conference in Bloemfontein on 22 January, the President reportedly said to Eskom that 'it will be an injury to our people if we implement the 18% now when we are going through load shedding. Put it in suspense for a while’.
In doing so, Mr Ramaphosa went against the Eskom executive team, as well as the National Energy Regulator of South Africa (NERSA), the regulatory body that granted Eskom the tariff hike in the first place. Eskom had initially requested an eye-wateringly high 32% increase.