A member of the South African Property Owners Association (Sapoa) says if Eskom's application for a tariff increase of 36% next year succeeds, the impact on its utility cost will be R15.30 per square metre across its property portfolio of more than 700,000m². Sapoa's comment forms part of a submission by Business Unity South Africa (Busa) to energy regulator Nersa, which is considering Eskom's application for tariff increases of 36.15%, 11.81% and 9.1% in the next three financial years.
Mining companies, preparing for what they consider a "worst case scenario", have budgeted for an electricity tariff increase of three times CPI (consumer price index) - with CPI at 2.8% year-on-year in October.
If Eskom's application is approved, mining electricity costs could rise by R8.8 billion to about R68.6 billion by the end of 2027, according to Minerals Council SA.
This story is from the December 10, 2024 edition of The Citizen.
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This story is from the December 10, 2024 edition of The Citizen.
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