The National Energy Regulator of South Africa ( NERSA) has approved a revenue recovery scheme for South Africa’s utility firm, Eskom. This will enable Eskom recover 13.3 billion rand or $718 million from customers for electricity supplied in the 2018/2019 financial year. The tariff earlier used for that period was lower than what Eskom had applied for.
NERSA made this known in a statement but did not provide further details other than promising more information after some requirements have been fulfilled.
Eskom had applied to NERSA last August to recoup almost 30 billion rand from electricity customers through power tariffs. The utility firm added that it needed to balance the cost incurred for that financial year. Eskom has not formally made any comment on the development.
Eskom supplies more than 90% of South Africa’s electricity but is struggling with high debts and faulty power stations which prompted it to impose several rounds of severe power cuts last year, hurting the country’s economy.