• Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

  • Don't take us for fools

    It's time for businesses to stop thinking consumers are gullible, says Mandi Smallhorne.

All data is delayed
See More

Eskom price hikes unavoidable - Gigaba

Nov 13 2012 10:20
Johannesburg - The 16% electricity tariff hike every year for the next five years is unavoidable, Public Enterprises Minister Malusi Gigaba said on Tuesday.

"It [the tariff increase] is not fair, [but] it is necessary," Gigaba said at a business breakfast in Fourways.

"Given the challenges that we have... we need to ask South Africans to bear the collective pain to fund this build programme and go through this painful process."

In October, Eskom submitted an application to the National Energy Regulator of SA for a 16% tariff hike every year for the next five years.

Gigaba said the poor needed to continue to be shielded. They would be charged a single-digit flat rate determined by municipalities.

Eskom asked municipalities to be considerate of their mark up when charging more for electricity, as it was a source of revenue, Gigaba added.

Share your thoughts and tips on how you are coping.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote