The Monetary Policy Committee (MPC) of the Reserve Bank has once again decided to leave South Africa’s repo rate unchanged at 6,75% and prime interest rate the same at 10,25%.

Last week’s NERSA decided to allow a further above-inflation tariff hike.

John Jack, CEO of Galetti Corporate Real Estate.

President Cyril Ramaphosa says the financial and operational challenges faced by power utility Eskom are not caused by the Independent Power Producer (IPP) programme.

Eskom on Thursday warned of a "severely constrained" power system due to the unavailability of some of its generating units.

Collin Matjila has been appointed as the acting Chief Executive Officer of Eskom as of 1 April 2014, the electricity utility said.

The South African Property Owners Association (SAPOA) welcomes the approval by the National Energy Regulator of South Africa (NERSA) of the 8% annual increase for electricity. 

The National Energy Regulator of SA (Nersa) has granted power parastatal Eskom an 8% tariff increase over the course of the next five years of the Multi-Year Price Determination period 2013/14 to 2017/18 (MYPD3).

The tariff increase was necessary to maintain revenue as well as to cover operating costs and the financial stability of Eskom.

The City of Cape Town, trade unions and a host of civil society organisations opposed Eskom’s request for an average annual increase of 16 percent over five years at Nersa’s hearings on Eskom’s tariff application.