The electricity price will remain stable for the next two years. Thembani Bukula, spokesperson for the National Energy Regulator of South Africa (Nersa), said there would be no adjustments to the Eskom tariff approved by Nersa in its multi-year price determination in 2013.
At the time, Nersa capped Eskom tariff price hikes at an average of eight per cent per annum over the next five years. The utility had asked for a 16% increase.
Nersa is undertaking a reconciliation of Eskom’s 2012-13 accounts to assess whether actual expenditure exceeded what was budgeted for.
The regulator will also ensure that the costs Eskom passed on to its customers were prudent. Costs incurred because of poor management would not be allowed.
In the past, there has only been one revision of the tariff based on the regulatory clearing account, and that was the downward revision from 25,9% to 16% that took place in 2012 because Eskom had over-recovered its costs.