The City of Cape Town does not make any profit from water sales
The article “ANC calls for investigation into City of Cape Town’s Day Zero ‘profits’” (March 30) refers:
Water revenue is the total income. It is not a surplus or profit. The City does not make any profits on water sales. Any surpluses in any particular year are invested back into the water service in the following year. Customers get the full value of any payments that they make.
The claims of “profit” are rejected and are misleading. Since the peak of the drought in 2018 and Level 6B tariffs, water tariffs (for average household usage and connection) have almost been halved. Water provision is a revenue neutral service, not for profit.
* Alderman Ian Neilson, Mayoral Committee Member for Finance.
** The views expressed here are not necessarily those of Independent Media.
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