Eskom Holdings SOC Ltd. is able to raise power prices by at least 4.4 percent starting April 1 to claw back the expenses through its so-called regulatory clearing account, the Pretoria-based National Energy Regulator of South Africa said in an emailed statement Tuesday. It first announced the amount on June 14, and today said standard tariff customers will pay for R31.1 billion of that, with international clients and those on negotiated pricing agreements footing the bill for the rest.
The utility is facing financial strain as a result of factors including weak demand, delinquent municipaliies that don't pay their bills and widespread allegations of corruption. Eskom wanted to recoup R66.6 billion for the three financial yeas through end-March 2017.