File picture: Siphiwe Sibeko / Reuters
Johannesburg – The National Energy Regulator of South Africa (Nersa) on Thursday authorised Eskom to raise tariffs by 2.2 percent in the 2017/18 financial year.

Nersa chairperson, Jacob Modise, said Eskom's full year revenue of R205 214 million for the 2017/18 financial year will now result in a percentage increase of 2.2 percent as determined in the Multi-Year Price Determination (MYPD3) decision.

In the MYPD3 decision, Nersa approved an eight percent average increase per annum for a period of five years, starting from the April 1, 2013 to the March 31, 2018.

Modise said the reason for the lower percentage increase this year was due to the base adjustments made in the preceding years as a result of the approved Regulatory Clearing Account (RCA) balances for Eskom.

African News Agency