Eskom Approved to Raise Power Prices by Most in Over a Decade
- Power utility allowed to increase by 19%, had asked for 32%
- South Africa suffering record power cuts as Eskom plants fail
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Eskom Holdings SOC Ltd., South Africa’s indebted electricity producer, has won approval to increase tariffs by almost a fifth — the most in more than a decade — though that’s still below what it says is needed to help limit worsening power cuts.
The national regulator allowed the company to increase tariffs by 18.65% for the 2024 fiscal year, it said Thursday. The utility had applied for a price increase of 32% to pay for more purchases from independent producers as it struggles to meet demand.