2.2% Electricity Hike from 1 April 2017
The National Energy Regulator (NERSA) at its meeting held on Thursday, 23 February 2017, confirmed Eskom’s allowable revenue of R205 214 million for the last year of the MYPD3 period (2017/18 financial year).
The allowed revenue will result in a percentage increase of 2.2% due to the base adjustments made in the preceding years as a result of the approved Regulatory Clearing Account (RCA) balances for Eskom (12.7% for 2015/16 and 9.4% for 2016/17).
This means that consumers’ electricity bills will increase with 2.2% as from 1 April 2017.
The Energy Regulator confirmed the allowable revenues on the basis of the approved MYPD3 revenues and average price for 2017/18. The allowed revenue for 2017/18 is Eskom’s full year’s revenue as determined in the MYPD3 decision. The allowed revenue will be able to cover all of Eskom’s allowed costs, plus a return to the value of R33 667m as per the MYPD3 decision.
NERSA Press Release, 23 February 2017
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