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Watchdog backs extra Eskom price hike

Johannesburg - South African power utility Eskom has been given permission to adjust rates next year above the 8 percent increase already granted, the National Energy Regulator (Nersa) said on Wednesday.

“There will be a tariff adjustment next year. It will be 8 percent plus whatever percentage adjustment they need,” Nersa spokesman Charles Hlebela told Reuters.

The adjustment aims to provide Eskom with an additional 7.8 billion rand in revenue from consumers, Nersa said, short of the almost 18.4 billion rand the utility firm had applied for. - Reuters

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