Eskom seeking up to 17% electricity hike

The Cape Chamber of Commerce and Industry has slammed Eskom for pursuing a 17 percent tariff increase from the National Energy Regulator. Courtesy #Dstv403

JOHANNESBURG - Eskom is seeking to hike electricity costs by up to seventeen percent.

Eskom is currently over R400-billion in debt.

The utility has approached the National Energy Regulator for the tariff, saying it needs R27-billion in the next year to meet its financial obligations.

Some Eskom power plants have not been renovated for up to 37 years. 

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The Cape Chamber of Commerce and Industry says the request by Eskom will lead to the downfall of more businesses.

The executive director of the Cape Chamber of Commerce and Industry, Sid Peimer has said that the potential hike in electricity prices is unacceptable and will lead to more businesses closing. 

He said with regards to businesses being effected by a cost increase, "once electricity costs spike then the decision to close becomes a more likely decision and we have seen businesses close." 

According to Peimer, if nothing changes at Eskom, more load-shedding will occur in the country.