Finance Minister Pravin Gordhan. Picture: Ian Landsberg

Cape Town - Consumers will welcome Nersa's decision on Thursday to grant Eskom a tariff increase of eight percent over the next five years, said Finance Minister Pravin Gordhan.

“This announcement is clearly one that would please households and business, but we also have to give Eskom an opportunity to respond and convince us that it remains viable with those numbers,” he said.

Eskom had applied for a 16 percent increase in each of the next five years.

It has a week to return to the national energy regulator to outline its application for an increase for energy-intensive users. - Sapa