Eskom’s price hike will hit jobs, place handbrake on economic growth | Business | M&G

Critics have warned Eskom’s above-inflation increase will have detrimental effects on consumers and the economy.

“This larger increase in electricity prices will eat into the already diminished income of the poor and lower income groups,” said the Democratic Alliance’s member of parliament Natasha Mazzone in a statement. “This announcement by Nersa of double the inflation for this year is going to damage the economy irretrievably. Nobody gets increases double the rate of inflation. Somebody is going to have to start switching off their lights and I suspect it’s going to be half of the South African population because they can no longer afford it,” Blom said.

Eskom already has a court challenge to Nersa’s decision to allow it to claw back only R32,6-million or 4.41% from consumers for the previous three years. This is less than the R66.6-million that Eskom had asked for.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Nersa’s yes — no to Eskom | Business | M&G
Sumber: mailandguardian - 🏆 2. / 92 Baca lebih lajut »

Disgraced PIC executive wants job back | Business | M&GFormer Public Investment Corporation (PIC) executive Vuyokazi Menye, who was given over R7-million to leave the organisation, says she wants her job back.
Sumber: mailandguardian - 🏆 2. / 92 Baca lebih lajut »

Brace for big fuel price increase on Wednesday | Business | M&GSouth African motorists will be paying 74 cents more per litre of petrol and between 91 and 93 cents more per litre of diesel from Wednesday.
Sumber: mailandguardian - 🏆 2. / 92 Baca lebih lajut »

Reserve Bank was not alerted to ‘shell company’ concerns — Eskom official | News | National | M&GThe South African Reserve Bank was not privy to information that might have put the breaks on the controversial multibillion-rand loan from Huarong Energy Africa to Eskom, the state capture commission heard on Monday. Is misleading the SARB not a crime? Did you mean 'put the brakes on'?
Sumber: mailandguardian - 🏆 2. / 92 Baca lebih lajut »