After a regulatory oversight, South African power company Eskom is allowed to recover $3.4 billion through rate hikes.

After a series of pricing calculation errors and a failed attempt to resolve the matter privately, the South African energy regulator has allowed the state-owned company Eskom Holdings SOC Ltd. to increase electricity prices in the next three years in order to recover 547 billion rand. According to a statement released by Nersa last Sunday, Eskom is allowed to increase electricity prices by up to 8.3% annually until the end of the 2028 fiscal year. The recovery of approximately 120 billion rand will begin implementation this year.