Wednesday, February 24, 2010

Banana Republic News: Eksdom Hikes Electricity Rates 25% Per Year

Eskom will be increasing its electricity tariff by 25% per year, for the next three years. And this is on the back on huge increases already.

Holy shit, do you have any idea what the inflationary knock on effect is? I have been saying this for ages, but when the Rand corrects, it will be fast and violent. And it will correct .... we just don't know when.

What a third world goon show. Well, I guess you better fill in the swimming pool and stock up on candles.

[Washington Post] JOHANNESBURG -- South African regulators have approved electricity rate increases of about 25 percent for each of the next three years.

The National Energy Regulator said Tuesday the increases will start April 1. The hefty increases are raising concerns about the impact on business and homeowners. But they are less than the 35 percent annual increases electricity company Eskom requested.

Eskom blamed widespread power cuts in 2008 on years of under-investment and rising demand. Gold and platinum production - the backbone of the national economy - were interrupted because of lack of power.

In a statement Tuesday, mining companies said the increases would hurt, but would "be much more manageable and cause much less damage" than the increases Eskom requested.

As an aside, it is disturbing to see how many videos have been removed from You Tube, for some violation or other.

3 Opinion(s):

Anonymous said...

Is it not time to publish the names and numbers of those lads in Sowetho who organise the illegal connections? I think we all need them now!

Anonymous said...

@Anon. I have it on good authority that they are black, their first names are usually Innocent, Lovemore, Sipho, and there surnames usually start with M. Sometimes they have nicknames like Hot Stix. Will that help?

Anonymous said...

No one must tell me Eksdom is stupid. They intentionally asked for over 30% so that everyone would be relieved when it only came in at "25%". That was always their aim. Between the new fuel levy and the electricity price, inflation is going to be quite healthy methinks.