{"id":15792,"date":"2012-10-22T18:20:52","date_gmt":"2012-10-22T16:20:52","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/update-2-eskom-seeks-to-double-safrican-power-prices-by-2017\/"},"modified":"2012-10-22T18:20:52","modified_gmt":"2012-10-22T16:20:52","slug":"update-2-eskom-seeks-to-double-safrican-power-prices-by-2017","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-eskom-seeks-to-double-safrican-power-prices-by-2017\/","title":{"rendered":"UPDATE 2-Eskom seeks to double SAfrican power prices by 2017"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Seeks 16 pct a year over 2013-2018<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Increases to pay for new plants<\/p>\n<p><span><\/span><\/p>\n<p>* Rand, bonds show little reaction<\/p>\n<p> (Adds reaction)<\/p>\n<p><span><\/span><\/p>\n<p>By Olivia Kumwenda<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Oct 22 (Reuters) &#8211; South African power utility<br \/>\nEskom has applied to more than double the price of its<br \/>\nelectricity over the next five years, a move that will deal a<br \/>\nheavy blow to industries where margins are already under<br \/>\npressure.<\/p>\n<p><span><\/span><\/p>\n<p>The state-owned utility said it has applied for a 16 percent<br \/>\nannual increase for five years from April 2013 to March 2018,<br \/>\ncomprising a 13 percent annual hike for its own needs and a 3<br \/>\npercent rise to support the introduction of independent power<br \/>\nproducers.<\/p>\n<p><span><\/span><\/p>\n<p>Eskom was awarded price hikes averaging 25 percent annually<br \/>\nin the past three years and energy-intensive users, including<br \/>\nthe vital mining industry, have long said the steep increases<br \/>\nwere making some of their operations unsustainable.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It would be a big blow to the development of South African<br \/>\nindustry. If it gets approved, it would be a problem,&#8221; said<br \/>\nKevin Lings, chief economist at asset manager Stanlib.<\/p>\n<p><span><\/span><\/p>\n<p>A wave of strikes in South Africa has forced companies to<br \/>\nincrease wages, which along with steep increases in raw material<br \/>\ncosts and power prices are cutting into profits.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Seeks 16 pct a year over 2013-2018 * Increases to pay for new plants * Rand, bonds show little reaction (Adds reaction) By Olivia Kumwenda JOHANNESBURG, Oct 22 (Reuters) &#8211; South African power utility Eskom has applied to more than double the price of its electricity over the next five years, a move that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15792","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15792"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15792\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}