Higher electricity by 2012
By Khanyisa Tabata
18 October 2009
By 2012 South Africa could have the world's highest electricity tariffs.
Only a couple of years ago the country was attracting foreign investment with assurances that its electricity was the cheapest.
According to electricity could become hugely expensive if Eskom's application to increase the tariff by 45-percent a year over the next three years is approved.
Should the plan get the go-ahead, in 2010 South Africans will be paying more for electricity than consumers in countries like the USA and South Korea are paying. Economist says locally, residential consumers will bear the brunt.