13% Hike in Eskom tariff come next year

Eskom has said it will do its best to avoid load shedding next week. During last weekend’s load shedding, Eskom was able to repair three out-of-service units and build up its diesel and water reserves. This has restored power back into the ailing grid however supply would remain tight.

After a special board meeting, Eskom has confirmed it needs a substantial injection of funds to ease its cash crunch and avoid another credit downgrade. As a result, there will be a steep tariff hike come next year.

Eskom spokesperson Andrew Etzinger says, "The price increase for next year is expected to be in the order of 13%."

"It will be slightly higher with certain customer categories and slightly lower, and it is a high increase when you compare to inflation but I think it is important. So, it's a difficult situation and the reality is that we've got to solve the financial situation of Eskom and we've got to solve the secure supply in SA and it's going to take compromise from all of us - we understand that the public are bitter and businesses are bitter."