Eskom appreciates the tough NERSA revenue decision for FY2024 and FY2025
13 January 2023
Eskom again apologies for the severe extent of loadshedding. The impact on individuals and businesses is understood. The minimising of loadshedding is the highest priority for Eskom and continuous focus at all levels in the organisation is being given.
Eskom appreciates the tough decision made by the National Energy Regulator of South Africa (NERSA) for the FY2024 and FY2025 revenue determinations and recognises the pressures this determination will place on consumers. Once NERSA makes a decision on the restructuring of tariffs (as submitted during August 2020 and 2022), these decisions will ensure Eskom can apply the tariff adjustments to its customers from 01 April 2023.
In July 2022 the High Court ordered NERSA to undertake the necessary regulatory steps to assess, consult and make a determination on Eskom’s FY2024 and FY2025 Multi-Year Price Determination (MYPD) Application. NERSA was granted an extension to make the decision by 12 January 2023, since it required further time.
“Eskom notes the decision by NERSA. This decision will positively contribute from a financial and sustainability point of view,” said Calib Cassim, Eskom’s Chief Financial Officer. “The revenue determination of R319 billion and R352 billion for the financial years 2024/5 will allow a further migration towards a price level that reflects the efficient cost of producing electricity.”