Eskom asks for a 20% tariff hike, but may get nothing

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Eskom wants to charge more for power, but Nersa has asked it to resubmit its application. Photo: iStock
Eskom wants to charge more for power, but Nersa has asked it to resubmit its application. Photo: iStock

BUSINESS

According to economist Mike Schüssler, such a large increase could push the inflation rate up from the estimated 4.1% next year by one percentage point, which, in turn, could lead to higher interest rates.

“Power costs used to be 4% of the costs in mining. They’re now 9%. Whether you run a school, a restaurant or whatever, it will have a huge impact on you,” he says.

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