POWER utility Eskom has updated key assumptions in its revenue application to the National Energy Regulator of South Africa (Nersa), proposing a 32.02% electricity price hike from 1 April 2023.
Nersa is currently consulting on Eskom’s Multi-Year Price Determination (MYPD) 5 revenue application for the 2024 and 2024 financial years.
According to the methodology, Eskom must provide any updates on changes in conditions and environments that impact various cost elements of the revenue requirements.
“Changes are made within the cost items as required with an offset in the return on assets,” Eskom explained.
Despite the amendments, Eskom said its total revenue as applied for in June 2021 — R335 billion for the 2024 financial year and R365 billion for the 2025 financial year — remained roughly the same.
As a result, the price increase of about 32.66% that Eskom originally wanted from April next year has been reduced slightly to
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