South Africa’s biggest energy users criticised a R54 billion ($3 billion) settlement between the state power utility and regulator and called for a review of the process to determine electricity prices.
The agreement reached between Eskom and the National Energy Regulator of South Africa last week over a tariff award — found to be based on incorrect data — will drive up electricity prices, adding to an eight-fold surge in power costs since 2008, according to the Energy Intensive Users Group.