page contents
Connect with us

Business

Eskom tariff hike permission deepens South Africa woes

Published

on

The National Energy Regulator of SA (Nersa) permission to Eskom to hike tariffs in April next year has been described as such that may worsen the woe of South Africa’s economy, a move that analysts said could see electricity rising by between 10 and 19.4 percent increase next year.



Nersa said it had approved Eskom’s liquidation of the Third Multi-Year Price Determination (MYPD3) Regulatory Clearing Account (RCA) balances for the 2014/15, 2015/16 and 2017/18 financial years over a four-year period. 

Nersa has granted Eskom a 4.1 percent increase effective April next year under the regulatory clearing account. Eskom has also applied for a 15 percent tariff increase, which Nersa is considering, although the actual increase – which will come into effect in April next year – could be higher or lower.

IMG-20180912-WA0030

The move comes as the cost of fuel, one of the major factors stalling economic growth, went up yesterday, heralding a litany of other associated price increases in the food basket, energy mix and inflationary pressures.

“The impact will be very significant; consumers can expect at least a double inflation increase next year, it will certainly tip over the inflation rate,” energy analyst Chris Yelland said..

FOLLOW US ON:
 INSTAGRAMLINKEDINYOUTUBETWITTER & FACEBOOK

Nersa awarded Eskom the green light to raise tariffs and to recover R31.1 billion of the R66.6bn the power utility applied for, to recover its costs for the period in the next four years.

The Energy Intensive Users Group of Southern Africa (EIUGSA), whose members account for about 40 percent of electrical energy consumed in the country warned that increases in electricity tariffs would exacerbate Eskom’s “death spiral”.  

TO DOWNLOAD OUR MOBILE NEWS APP CLICK HERE
WATCH RUSSIA 2018 HIGHLIGHTS HERE

Business

Samsung to resurface Gear VR device with Galaxy S10

Published

on

Samsung spokesperson has expressed that they are ready to resurface a new lineup of Galaxy S10 phones with an improved Gear VR headset. adding that the Gear VR device will contain adapter that will  allow Samsung phones to access the device.



The designed Gear VR can accept several different phone sizes thanks to its spring-loaded catches, it still requires some conscious design effort by Samsung to limit the size and shapes of its phones to fit, and preload a certain amount of software so a Galaxy phone detects that it’s been plugged in.

IMG-20180912-WA0030

However, he admits that the features were improved due to the challenges the users observed on Samsung Note 9, where the user had to contact Samsung to get the adapter and the music of Elton John.

FOLLOW US ON:
 INSTAGRAMLINKEDINYOUTUBETWITTER & FACEBOOK

Meanwhile Samsung  states it hasn’t given up on the brand. Which, to be fair, is also what its partner Oculus disclosed last September, pointing out that $19.9 Oculus Go doesn’t totally compete with the Gear VR, since apps that developers make for either one are 100-percent compatible with the other.

TO DOWNLOAD OUR MOBILE NEWS APP CLICK HERE

PROMOTE YOUR BUSINESS FOR JUST $1 CLICK HERE

Continue Reading

Business

President Ramaphosa to Sign South African Competition Amendment Bill Into Law

Published

on

South African President Cyril Ramaphosa will sign into law today the Competition Amendment Bill, which will strengthen regulations against anti-competitive behaviour in industrial markets.



The bill, which was approved by the National Assembly in October 2018 and endorsed by the National Council of Provinces in December 2018, is a step in the right direction for SMEs, economic inclusion and it opens up the economy to fresh investment and innovation.

It also provides a clear mandate to the competition authorities to address economic concentration in a balanced manner and to promote economic transformation, the Presidency said on Monday.

Additionally, the amended legislation seeks to combat concentration and economic exclusion as core challenges that contribute to slower and less dynamic growth, lower employment and greater inequalities, as well as socio-political conflict.

 IMG-20180912-WA0030

The Presidency said this will enable a more effective approach to concentration, with a focus on improving outcomes for small and black-owned business, and strengthen the institutions involved in managing competition policy and law.

The signing ceremony will take place this afternoon at the Tuynhuys Chambers in Parliament. Economic Development Minister Ebrahim Patel, who campaigned fiercely for the bill’s codification, will join the ceremony along with a group of stakeholders.

TO DOWNLOAD OUR MOBILE NEWS APP CLICK HERE

Continue Reading

Facebook

Advertisement
Advertisement

Trending

Copyright © 2018 Anttention Media. All rights reserved