Eskom CEO Andre de Ruyter has cautioned South Africans to expect an increase in electricity bills.
According to EWN, De Ruyter stated that the state-owned company was attempting to reduce costs internally in order to save money.
He urged the government to do its part and bear the burden of Eskom’s debt.
“The bad news is that we’ll almost certainly have to hike power bills to make up for a spate of negative Nersa verdicts,” De Ruyter added.
According to De Ruyter, the municipal debt to Eskom has increased to R39 billion.
From the Citizen findings, the Johannesburg Property Owners and Managers Association discovered that power rates increased by 224 percent,
This occurred in 2009-10, yet tenants only saw a 91 percent increase in their earnings.
Electricity expenditures account for about 13% of the average take-home wage in the formal sector, according to Bank serve Africa data.
According to the figures by economist Mike Schussler, income is also substantially greater, and this exacerbates the problem of electricity affordability.
In other developments, the South African Social Security Agency (SASSA) recently announced the COVID-19 relief program.
This is a commendable initiative and many people have benefited from the program dubbed “Social Relief of Distress.”
I intended it for individuals who require emergency finances to meet their most pressing requirements.
Food, school fees, and even housing are examples of such requirements.
COVID-19 affected many South Africans, particularly those who have lost businesses, families, or breadwinners.
Lindiwe Zulu Makes the announcement
Lindiwe Zulu, the Minister of Social Development, has announced something very important regarding the R350 SRD grant.
We all know that the rollout of R350 has already begun and many people have already received R350 grants.
However, as of today... CONTINUE READING HERE>>>>>>