ESKOM has asked the National Energy Regulator of SA (Nersa) for a 19.9 per cent tariff hike for 2018/19.
Eskom has welcomed Nersa’s approval of the consultation process for the power utility’s 2018/19 revenue applications.
On Thursday, the power utility said its year-price determination (MYPD 3) cycle comes to an end on March 31 next year. Nersa now gave its approval for Eskom to submit a revenue application for a single year for the period April 1, 2018 to March 31, 2019.
“Eskom understands that Nersa, in accordance with its mandate, will evaluate the revenue application and allow for public consultation before making a decision on the allowed revenue. We are committed to participate in Nersa’s process and look forward to further engagement on the revenue application with stakeholders,” said Eskom’s acting chief financial officer Calib Cassim.
The 19.9 per cent average increase translates to a July 1, 2018 local authority tariff increase of 27.5 per cent for residents.
In its revenue application, Eskom said municipalities would continue to pay the 2017/18 rates for the period April 1, 2018 to June 30, 2018. This is due to the Municipal Finance Management Act (MFMA) requiring municipal tariff changes to be made only from July 1 each year.
Customers and stakeholders can access the utility’s documents here
