The utility had lowered its request to 35% over the next three years, according to a statement handed to media on Tuesday, before a briefing by Eskom’s acting chairman Mpho Makwana in Johannesburg.
Eskom had initially wanted 45% each year for three years to help fund the its R385bn expansion programme. The programme was vital if the load shedding that occurred in January 2008, which shut down the country’s mines, was to be avoided.
In 2009 alone, Eskom raised tariffs by around 31%.
After announcing its earlier tariff proposal this year, Eskom came under pressure from the ANC, the SACP, Cosatu, business and industry to minimise price hikes. Economists estimated that a 45 percent tariff increase would have added at least 50 basis points to the inflation rate. — Sapa