Magwenya reiterated Eskom needed the money and is in need of funding.
“Nersa has a number of court orders that ordered Nersa to grant Eskom some of the increases they applied for and as I’ve said, Eskom does need the money and is in need of funding, therefore there’s a balance that has to be maintained.
“The president is alive to the pain of having to pay more from the consumer perspective for power that is intermittent in its availability. As we continue to drive solutions to reliability of the grid, we hope that pain will be alleviated,” he said.
Magwenya said Ramaphosa acknowledged the frustration of households, parents and pupils who have started the school calendar year facing power shortages.
“President Ramaphosa deeply regrets the energy situation which has placed the country into stage 6 load-shedding. The president acknowledges the frustration of households, parents and learners who have commenced the school calendar year facing power shortages.
“The devastation to small businesses and the adverse impact to the economy remains severe for SA’s recovering economy,” he said.
Scores weighed in on the presidency's response, with many saying Ramaphosa must do better. Here is a snapshot of what many had to say:
'This isn’t Fifty Shades of Grey, do better': SA slams presidency's response to Nersa's electricity price hike
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Image: Bloomberg
“Having a president that quotes Fifty Shades Of Grey during tough times is hell.”
This is one of the remarks from gatvol citizens who expressed their dismay with President Cyril Ramaphosa after his response to the National Energy Regulator of South Africa's (Nersa) decision to hike electricity prices by 18.65% for the next financial year, starting from April 1.
The regulator gave the green light to revenue of R318bn in 2023/2024 and R352bn in 2024/2025. Eskom had applied for R351bn and R381bn, respectively.
Briefing the media recently, presidency spokesperson Vincent Magwenya said Ramaphosa’s hands were tied when it came to Nersa asking South Africans to pay more for electricity.
“At this stage, the president cannot interfere with that process. It is a statutory process that Nersa has under way. Eskom does need the money and the president is mindful of the severity of consumers paying more for electricity they do not have,” Magwenya said.
“Having said that, we need to sustain the funding of Eskom from multiple sources, to enable Eskom to fund its maintenance, to fund its various programmes that are under way.”
Nersa chairperson Thembani Bukula is not conflicted, says regulator
Magwenya reiterated Eskom needed the money and is in need of funding.
“Nersa has a number of court orders that ordered Nersa to grant Eskom some of the increases they applied for and as I’ve said, Eskom does need the money and is in need of funding, therefore there’s a balance that has to be maintained.
“The president is alive to the pain of having to pay more from the consumer perspective for power that is intermittent in its availability. As we continue to drive solutions to reliability of the grid, we hope that pain will be alleviated,” he said.
Magwenya said Ramaphosa acknowledged the frustration of households, parents and pupils who have started the school calendar year facing power shortages.
“President Ramaphosa deeply regrets the energy situation which has placed the country into stage 6 load-shedding. The president acknowledges the frustration of households, parents and learners who have commenced the school calendar year facing power shortages.
“The devastation to small businesses and the adverse impact to the economy remains severe for SA’s recovering economy,” he said.
Scores weighed in on the presidency's response, with many saying Ramaphosa must do better. Here is a snapshot of what many had to say:
LISTEN | Eskom unburdening its debt to citizens: experts
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