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RAPT BizTrendsTV: Li Ndube on Afro-optimism - African growth vs Western degrowth

Manufacturers to appeal tariff hikes

29 Sep 2011

Business Day reported that manufacturers will appeal to the National Energy Regulator of SA (Nersa) for relief on its planned electricity tariff hikes, arguing that the increases would force many companies out of business.

Steward Jennings, chairperson of industry group the Manufacturing Circle, said that price cuts were needed for distressed industries as well as reductions in the proposed 25% electricity price hikes planned for the next couple of years.

In the past four years, electricity prices for manufacturing had climbed 140%, making it one of the main drivers of rising costs for industry, Jennings said. "We have to attack these militant price increases... we can't afford another two years of 25% increases. We will fall out (of business), we are already falling out," he said.

The Manufacturing Circle represents 56 large companies including SABMiller [JSE:SAB], ArcelorMittal [JSE:ACL], Pretoria Portland Cement [JSE:PPC], Hulamin [JSE:HLM], Mondi [JSE:MND] and Allied Electronics Corporation [JSE:ATN]. Manufacturing accounts for 15.6% of the economy's overall output.

Read the full article on www.fin24.com.