Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

Electricity increase announcement

Reply
mikki
Contributor
Does anyone know what time the announcement is? Would the market be 'happy' with around 20%?
0 Kudos
14 REPLIES 14
SimonPB
Valued Contributor
0 Kudos
Big_Bucks
Super Contributor
12 NOON TODAY...METHINKS 25% FOR THE NEXT 3 YEARS
0 Kudos
SimonPB
Valued Contributor
0 Kudos
Not applicable
Missed the news. What was the official rate?
0 Kudos
Not applicable
Yikes, Simon, I see your post just before mine.....not so bad but still in effect doubles cost in the next 3 years, eish
0 Kudos
DEP
Super Contributor
24.8% 2010; 25.8% 2011; 25.9% 2012. These are big numbers, both consumers and commercial users will feel this. Not a good recipe for growth!
0 Kudos
SimonPB
Valued Contributor
agreed, except of course black outs are bad for ggrowth as well ..
0 Kudos
topgun
Super Contributor
So, the net effect is a near doubling of the tariff over the next 3-years...with lots of second round cost implications and consequences. It will certainly be interesting to track the impact of this following earlier increases of 31.3% and 27.5% on SA's recovery trajectory and global competitiveness...and ability to create jobs, especially since the "new" industrial policy targets growth in domestic manufacturing. Seems like a own goal to me...
0 Kudos
Not applicable
Not as good recipe for growth and blacks out also bad.... reality is we (SA) have wasted years of being told that the situation is dire and things need to be done. The then Government said private industry must invest as goverment would do nothing. Now that nothing has been done and private industry has tried to get a reasonable rate for investment,without success or commitment rom goverment who want the monopoly in every case, we are sitting with the "dambed if we do and dambed if we dont".

SA has unfortunately had to cheap electricity for decades and now we have to accelerate the growth in a very short period for the mistakes of the past. But I doubt somehow that the consumer is going to really care, especially the "we demand" crowd cause they just use and then dont pay anyway.
0 Kudos
SimonPB
Valued Contributor
and even with this increase we have cheap elec .. of course industry has very cheap elec ..
0 Kudos
mikki
Contributor
What sector would benefit? Construction?
0 Kudos
kwagga
Super Contributor
This is a crazy country. Government is slowly and in a methodological way choking the goose that's laying the golden eggs. This is nothing more than a tax indirectly being paid to the ANC through Hitachi and their R 6 bil rand deal with Eskom. Corruption in this country has reached crisis levels. It seems that not even the media has got the capacity to cover all the stealing and pillaging anymore. We are already the biggest welfare state in the world. It's so simple to buy masses of votes through meagre handouts to the poor, just to keep their mouth shut and their votes in place. In the meantime, being in power gives the fat cats the opportunities to help themselves to millions of blood money. What future does this country have?
0 Kudos
SKALA
Super Contributor
Kwagga, like I said about "our fay boy", we must keep on exposing the details, not only allegations, but the facts. No, this will not embarress (spelling?) them, but will keep on exposing their lies. Some of the masses will turn, like now Vavi and co and the commies. We must have much more direct confrontation with the lies, corruption and lack of responsability.
0 Kudos
bangbul
Regular Contributor
Just invest in the nuclear 'explotion' to make up the diff?
0 Kudos