As South Africa grapples with escalating electricity tariffs and chronic load shedding, Enfin Energy Finance stands ready to provide a solution. Through Power Purchase Agreements, we offer businesses consistent, reliable power at a predictable tariff, helping to alleviate the financial burden imposed by Eskom’s tariff hikes. Our commitment to affordability and reliability ensures that businesses can operate without the fear of sudden power disruptions or exorbitant electricity bills.
South Africans are all too aware of the challenges we have regarding rising electricity tariffs and chronic load shedding. The National Energy Regulator (NERSA) has again in April 2024 approved an increase in electricity which has added to the financial burden on consumers. Concurrently, the persistent issue of load shedding has not only disrupted daily life but also impeded economic growth. In response to these challenges, Enfin Energy Finance has emerged, offering a solution that ensures consistent, reliable power at a predictable tariff for the next 25 years.
South Africa’s primary electricity provider, Eskom, received approval from NERSA to increase its electricity tariffs for the period from April 1st, 2024 to March 31st, 2025. The approved tariff hikes, set to come into effect in July 2024, represent a substantial increase. According to Eskom, the average increase for key industrial and urban tariffs will be 13.29%. These increase, well above the inflation rate, are expected to widen the gap of energy poverty in the country. This decision was criticised by the South African Federation of Trade Unions (SAFTU), pointing out that such increase outpace the growth of wages, exacerbating the financial strain on households and businesses.
Since 2007, South Africa has struggled with persistent, chronic load shedding, with the situation worsening in recent years. Data from the Council for Scientific and Industrial Research (CSIR) paints a grim picture of the extent of load shedding in the country. The years 2008 to 2023 witnessed a significant increase in both the duration and severity of load shedding, culminating in record-breaking 332 days of load shedding in 2023. The chronic power shortage has not only inconvenienced South African citizens, but has also dealt a severe blow to the country’s economy.
In response to these challenges, Enfin Energy Finance has stepped forward with a solution aimed at providing businesses with consistent, reliable power at a predictable tariff. Through Power Purchase Agreements (PPAS), we guarantee a stable supply of electricity at an agreed-upon tariff for the next 25 years. Importantly, our tariff will never exceed that of Eskom, ensuring affordability and predictability for our clients. We will fund, maintain and insure the solar installation, while you focus on running your business.