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Fin24 reports that an economist for the Steel and Engineering Industries Federation of Southern Africa (Seifsa) has warned that the proposed 19.9% electricity hike made by Eskom would result in job losses in the steel and engineering sector.
Seifsa, which strongly opposes Eskom’s application for electricity tariff increases, was due set to make a representation at the National Energy Regulator of SA (Nersa) hearings in Midrand on Monday. The sector has already lost a total of 25,000 jobs in the three years between July 2014 and June this year. Seifsa chief economist Dr Michael Ade said a high electricity tariff increase would stifle output in the metals and engineering sector. The sector provided employment to around 480,000 people directly last year, said Ade, adding that these jobs would be placed in jeopardy. He added that that if Nersa felt that an increase for Eskom was necessary, then it should be at a much lower percentage than requested.
- Read this report in full at Fin24
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