Power spin masks harsh reality of 1 300% tariff hikes and theft
Electricity Minister Kgosientsho Ramokgopa claimed exploitation over while Eskom lined up 8.8% tariff increase.
The Minister of Electricity and Energy, Kgosientsho Ramokgopa, confidently stated that an era of exploiting customers was coming to an end. Unbeknownst to him, the power utility was preparing to impose a staggering 8.8% tariff increase, more than double the rate of inflation. Despite boasting about the power prices increasing by 907% since 2007, the actual increase over the past two decades has been a staggering 1 300%.
This figure is unprecedented anywhere in the world, save for a country in the throes of war or complete economic collapse. Ramokgopa's claims notwithstanding, these exorbitant electricity prices are acting as a deterrent to investment, potentially leading to the loss of vital mining beneficiation opportunities such as smelting. The ruling ANC, who appointed Ramokgopa and others to such influential positions, appears content to undermine the prospects of economic recovery in order to maintain their favorable image in annual reports.
As the goose lays its golden eggs, the ANC's greed has been steadily choking its life out for far too long. However, the elephant in the room—the alarming level of theft and non-payment of electricity bills—remains largely ignored, with the potential to ultimately bring the entire system crashing down.
Written by urgent.news from The Citizen's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
