Consumers will be hit with a 12.69 percent electricity tariff hike next year, the National Energy Regulator of SA (Nersa) announced on Friday.<\/p>\n
Nersa approved Eskom’s plans to recoup losses after it had under-recovered money during the multi-year-price-determination 2 (MYPD2) control period between 2010 and 2013.<\/p>\n
“Nersa announced today [Friday] that it has approved the implementation plan of the Regulatory Clearing Account [RCA] balance of R7.818 million for Eskom Holdings SOC Limited,” Nersa said in a statement.<\/p>\n
“The RCA balance will be a once-off recovery from the standard tariff customers as well as other Eskom customer categories and will only be implemented in the 2015\/16 financial year.”<\/p>\n
This meant consumers would pay an extra four percent on top of the eight percent hike approved under the MYPD3 control period.<\/p>\n
“The implementation of the second multi-year-price-determination [MYPD2] RCA in 2015\/16 will result in an average tariff increase of 12.69 percent for standard customer tariffs from the eight percent approved in the MYPD3 decision of February 2013.”<\/p>\n
Nersa approved the RCA balance in July.<\/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
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