Eskom
Electricity prices are set to increase this week with Eskom, the state-owned power utility, rolling out its new electricity tariff. The adjustment comes in the wake of the National Energy Regulator of South Africa’s (NERSA) approval of the increased rates last December. The new tariff will see charges for electricity usage soar by between 12.72% and 12.74%, depending on the category of the user.
According to the detailed breakdown provided, local authority tariff charges for the term spanning 1 July 2024 to 30 June 2025 are pegged at a 12.72% increase. For Eskom’s direct customers, all tariff charges, excluding the affordability subsidy charge, will witness a 12.74% hike effective from 1 April 2024 to 31 March 2025. This increase is consistent across various tariffs including the Homelight 20A. However, the affordability subsidy charge itself is set to skyrocket by 25.24%.
Explaining the rationale behind these adjustments, Eskom disclosed, “The average increase applied to the key industrial and urban tariffs will be 13.29% due to the increase in the affordability subsidy charge. The affordability subsidy charge is raised as a subsidy to the Homelight 20A tariff and is determined by NERSA. This charge exists due to historically lower Homelight 20A tariff increases and is paid by the non-municipal large industrial and urban tariffs.”
Interestingly, while the immediate future will see these rate hikes, there are no plans to alter the tariff structure for the 2024/25 period. However, Eskom is not ruling out the possibility of changes going forward. “There are no tariff structural changes for 2024/25. However, Eskom is considering a tariff restructuring submission to NERSA for implementation in 2025/26,” stated the power utility.
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