JOHANNESBURG, March 9 (Reuters) – South Africa’s
energy regulator said on Friday it had cut the increase in
electricity rates for power utility Eskom to 16 percent for the
2012/13 financial year from a previously approved hike of 25.9
percent.
The decision follows Eskom’s application to reduce the hike
after the utility had been asked by the government to ease up on
private and industrial consumers, who have been hit in recent
years with soaring power costs.
(Reporting by Agnieszka Flak, editing by Ed Stoddard)
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