JOHANNESBURG - A South Africa electricity export on Thursday accused power utility Eskom of trying to recover losses from corruption by further increasing tariffs levied on consumers by an estimated 30 percent before the end of 2018.
The National Energy Regulator of SA (Nersa) last December granted Eskom a 5.2 percent tariff increase for 2018-19, effective from April 1, 2018, against the 19.9 percent Eskom had applied for.
In January the regulator in January published Regulatory Clearing Account (RCA) applications by Eskom to further increase tariffs to recover R66.6 billion lost between 2014 and 2017. Nersa gave the public until March 23 to submit comments on the application.
The RCA is a monitoring and tracking mechanism that compares "uncontrollable" costs and revenues assumed in the multiyear price determination (MYPD) made by Nersa, to actual revenue and costs incurred by Eskom.
But critics say the power utility is trying to make consumers pay for losses incurred through the corrupt activities of senior company executives.