{"id":8740,"date":"2012-03-09T15:01:27","date_gmt":"2012-03-09T13:01:27","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/update-1-s-africa-cuts-201213-power-rate-hike-to-16-pct\/"},"modified":"2012-03-09T15:01:27","modified_gmt":"2012-03-09T13:01:27","slug":"update-1-s-africa-cuts-201213-power-rate-hike-to-16-pct","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-s-africa-cuts-201213-power-rate-hike-to-16-pct\/","title":{"rendered":"UPDATE 1-S.Africa cuts 2012\/13 power rate hike to 16 pct"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Power rate cut from original hike of 25.9 pct<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Eskom asked by govt to reduce hikes to protect consumers<\/p>\n<p> (Adds detail, background)<\/p>\n<p><span><\/span><\/p>\n<p>By Agnieszka Flak<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, March 9 (Reuters) &#8211; South Africa&#8217;s<br \/>\nenergy regulator said on Friday it had cut the increase in<br \/>\nelectricity rates for power utility Eskom to 16 percent for the<br \/>\n2012\/13 financial year from a previously approved hike of 25.9<br \/>\npercent.<\/p>\n<p><span><\/span><\/p>\n<p>The decision follows Eskom&#8217;s application to reduce the hike<br \/>\nafter the utility had been asked by the government to ease up on<br \/>\nprivate and industrial consumers, who have been hit in recent<br \/>\nyears with soaring power costs.<\/p>\n<p><span><\/span><\/p>\n<p>Energy-intensive users, including South Africa&#8217;s vital<br \/>\nmining industry, have long said that the steep increases were<br \/>\nmaking some of their operations unsustainable.<\/p>\n<p><span><\/span><\/p>\n<p>Cash-strapped Eskom has been struggling to raise the money<br \/>\nit needs to build power plants fast to avoid a repeat of a<br \/>\ncrisis that forced mines to shut for days in 2008 and cost<br \/>\nAfrica&#8217;s biggest economy billions of dollars in lost output.<\/p>\n<p><span><\/span><\/p>\n<p>The reduction will result in a loss of revenue of 11.15<br \/>\nbillion rand ($1.48 billion), the regulator said.<\/p>\n<p><span><\/span><\/p>\n<p>Eskom, once one of the world&#8217;s lowest-cost electricity<br \/>\nproducers, was granted in 2010 three years of 25 percent annual<br \/>\nrises in power tariffs and was expected to apply for two more<br \/>\nsimilar increases after that.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Power rate cut from original hike of 25.9 pct * Eskom asked by govt to reduce hikes to protect consumers (Adds detail, background) By Agnieszka Flak JOHANNESBURG, March 9 (Reuters) &#8211; South Africa&#8217;s energy regulator said on Friday it had cut the increase in electricity rates for power utility Eskom to 16 percent for [&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-8740","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\/8740","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=8740"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8740\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}