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12.69% rise in electricity prices for next year,

2014-10-06 10:23 by Pam

Tariff hike for Eskom ‘will be just the start’

The National Energy Regulator (Nersa) has granted Eskom a 12.69% rise in electricity prices for next year, double the rate of inflation, a development economists believe is just a taste of things to come.

The price hike is bad news for both consumers and business, and is likely to put a damper on an already struggling economy. Inflation is expected to average 6.2% for the year, the Reserve Bank said last month.

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