South Africa's Eskom seeks 36% electricity price hike amidst financial struggles

Eskom, South Africa’s state-owned power utility, has requested a 36% electricity tariff hike for its 2026 financial year, citing inadequate previous price increases and escalating financial needs.

Burdened by $23 billion in debt, Eskom has relied on government bailouts but is restricted from taking on more loans.

Despite a 254 billion-rand government guarantee, Eskom insists cost savings alone won't ensure financial health and has also requested tariff hikes for 2027 and 2028. This move raises concerns about electricity affordability for South Africans, who are already facing rising living costs amidst slow economic growth.

Read full article