Eskom Demands 36% Hike, Puts Pinch on Pocketbooks, Fueces Inflation Nightmare
[Image of greedy hands grasping money, with Eskom’s logo in the background]
In a brazen attempt to line its pockets, Eskom is seeking a staggering 36% price increase for electricity in its 2026 financial year. This exorbitant hike will only serve to fuel inflation, further squeezing the already cash-strapped pockets of South Africans.
In a thinly veiled threat, the utility has claimed that previous tariff hikes were "inadequate" for its financial needs. But whose needs, exactly? The needs of the cash-rich Eskom shareholders, perhaps? It seems that the utility’s focus is solely on generating revenue, rather than serving the people of South Africa.
This comes as no surprise, given Eskom’s history of mismanagement and corruption. The company’s debt has ballooned to a staggering R400-billion, thanks in large part to years of incompetence and misappropriation of funds. And yet, Eskom is still relying on government bailouts to keep its power plants running. It’s a textbook case of moral hazard.
Eskom’s argument that the price hike is necessary to ensure "financial sustainability" is nothing short of laughable. It’s a smokescreen to distract from the fact that the utility is more concerned with lining its pockets than with providing reliable electricity services to the people.
This is a slap in the face to the working-class South Africans who are already struggling to make ends meet. It’s a classic case of the wealthy exploiting the poor, and it’s nothing short of obscene.
The government must intervene to prevent this blatant rip-off. It’s time to take a hard stance against Eskom’s price-gouging antics and ensure that the company serves the people, rather than its own interests.