Johannesburg - The National Energy Regulator (Nersa) on Thursday announced that it had approved Eskom's request for an extension to submit the new Multi-Year Price Determination (MYPD) application until April 1, 2017.
The MYPD is the process that Nersa uses to determine electricity prices over a number of years.
In March, Nersa approved Eskom's MYPD3 Regulatory Clearing Account (RCA) application for the financial year 2013/14 amounting to R11.2 billion, or a 9.4 percent tariff increase this year.
Eskom had requested R22.8 billion variance for the costs incurred in the production of electricity in that financial year. A
s part of its decision, the energy regulator requested Eskom to submit a new MYPD application within three months based on the revised assumptions and forecasts that reflected recent circumstances.
Eskom then submitted an application in May requesting an extension to submit the new application on April 1, 2017.
The power supplier cited statutory consultation requirements and the revision of the MYPD methodology as reasons for the request. Nersa also decided that Eskom's RCA applications for the second and third years of the MYPD3 2014/15 and 2015/16 should then be submitted together instead of separately. “
The two RCA applications will be processed simultaneously once they have been received,” Nersa spokesman Charles Hlebela said in a statement. “In view of the above, the process of reviewing the MYPD Methodology has been extended to allow further consultations with stakeholders.”
Nersa said the revised timelines for the review of the MYPD methodology would be communicated in due course.
AFRICAN NEWS AGENCY