President Cyril Ramaphosa on Monday vowed to tackle the country's soaring electricity tariffs, acknowledging that the rising cost of power is inflicting severe financial hardship on families and crippling business competitiveness.
Writing in his weekly newsletter to the nation, the President declared that South Africa must move away from its century-old reliance on a single utility provider if it hopes to secure an affordable, reliable and sustainable energy future.
Over the past two decades, South African electricity prices have surged dramatically and Ramaphosa highlighted that these high costs force ordinary citizens to make “impossible choices” while trying to balance food, transport and basic necessities.
He said for the business sector, the consequences are equally damaging, with manufacturing goods and providing services becoming increasingly expensive.
Ramaphosa noted that massive cost overruns at Eskom's mega-projects, specifically the Medupi and Kusile power stations, contributed to the utility's mountain of debt, a burden ultimately passed down to consumers and taxpayers.
