Neil Roets, chief executive of Debt Rescue. has warned that the hikes will put many South African households over the edge.
“Viewed in isolation, perhaps the burden of ever-increasing electricity prices might have been more easily absorbed had consumers not also had to contend with rising interest rates and skyrocketing fuel prices. Add to this the compounded effect on basic food prices, and there is no way to soften the blow.”July will also see other municipal tariff increases alongside the agreed electricity price hike.
It should also be noted that these increases are different for businesses and private users, with major metropoles providing aArguably the biggest increase awaiting consumers in July is another steep petrol price increase on Wednesday . “While we understand the negative impact of around R2.8 billion in tax revenue to the fiscus for every month the R1.50 per litre fuel levy reprieve remains in place, we believe that while petrol prices remain above R22 per litre, the minister would be wise to retain the full R1.50 reduction.”
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