Consumers will see an additional electricity price hike next year after Nersa announced on Wednesday it had approved the regulatory clearing account (RCA) for Eskom.<\/p>\n
“The National Energy Regulator of SA (Nersa) announced today that it has approved the regulatory clearing account balance of R7.8 billion for Eskom Holdings SOC Limited,” the regulator said in a statement.<\/p>\n
The RCA is a regulatory mechanism that allows Eskom to adjust for over-or under-recovery of revenue, as initial price determinations are based on projections and assumptions.<\/p>\n
Eskom had initially applied for a cumulative RCA balance of R18.3 billion.<\/p>\n
“The approved RCA balance is for the second multi-year price determination (MYPD2) control period, 2010 to 2013, and will be implemented in the 2015\/16 financial year.”<\/p>\n
Nersa said the actual percentage tariff hike has yet to be determined.<\/p>\n
The regulator would draft an implementation plan that would determine exactly how Eskom would recover the money.<\/p>\n
Eskom has been asking for an equity injection of at least R50bn to solve its cash-flow problems.<\/p>\n
On Tuesday the power utility painted a gloomy picture of its books, telling MPs it faced a R225 billion revenue shortfall, partly as a result of being granted lower-than-expected tariff increases by Nersa.<\/p>\n
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