NATIONAL ENERGY REGULATOR OF SOUTH AFRICA. Electricity Subcommittee Public Hearing 3 June 2010

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1 Presentation ti to the NATIONAL ENERGY REGULATOR OF SOUTH AFRICA Electricity Subcommittee Public Hearing 3 June

2 Content of Presentation Motivation and background of Tariff Increases proposed General factors to be taken into account by NERSA Financial Risk / Implications if tariffs are not approved 2

3 Motivation and Background Council approved the electricity tariff increases on 27 May 2010 Tariffs to be implemented on 1 July 2010 Average increase of 28,9% on income from electricity tariff increases 3

4 Average increase per tariff category Tariff Type of Consumers No of Increase Category consumers Tariff A Lifeline Prepaid Tariff A Prepaid + Credit Tariff B Poorest of the poor Indigents (restricted to 20 Ampere) +100 kwh FBE Residential low income (60 Ampere), cross over with Tariff B is 655 units kwh FBE < (numbers 0% will increase sharply) Block 1(150 (1-50 kwh) = 17,5% Block 2 ( kwh) = 21,7% Block 3 ( kwh) = 28,3% Block 4 (> 600 kwh) = 29,7% Average of blocks 1 and 2= 20% Average of blocks 1 to 3 = 25,7% ± kwh FBE Average of blocks 1 and 2= 20% Residential households, NO FBE Tariff B Business ± % ± Average of 27,9% on consumption of 800 kwh Tariff C Large residential, Average of 32% business & industrial Tariff D Large residential, 662 business & industrial Average of 32% 4

5 Previous Year s Tariff Increases Date EMM Eskom Difference Notes increase increase July ,8% 5,9% + 0,9% 2% Maintenance levy implemented and dincluded d July ,5% 5,6% - 0,1% Additional 1% Maintenance levy implemented and included July ,2% 35,9% - 25,5% 2 winter months and 1 summer month of severe under-recovery. Eskom monthly increases as follows: July 2008 = 40.72% August 2008 = 35.04% September 2008 = 37.35% October 2 20% (total 35,9% - 3,3% ,6% since 1July) July % 34% - 4% July ,9% 28,9% 0% 5

6 Statistics on Surplus on Electricity Service 2006/ / / /10 ACTUAL BUDGET ACTUAL BUDGET ACTUAL BUDGET ACTUAL BUDGET 28/2/2010 SALES 3,207 3,074 3,650 3,235 4,513 4,001 5,848 3,817 LESS:BULK PURCHASES 1,946 1,942 2,185 2,135 2,866 2,843 3,852 2,474 GROSS PROFIT 1,261 1,132 1,465 1,100 1,647 1,158 1,996 1,343 GROSS PROFIT (% OF SALES) 39.3% 36.8% 40.1% 34.0% 36.5% 28.9% 34.1% 35.2% PLUS:OTHER INCOME LESS:OTHER EXPENDITURE 1, ,132 1,035 2,103 1,976 2,364 1,484 NET PROFIT NET PROFIT (% OF SALES) 20.5% 18.0% 18.4% 10.6% 0.0% -9.1% 2.2% 3.3% 6

7 Statistics on Expenditure on Electricity Service 2006/ / / / /11 % Increase Budget ACTUAL to BUDGET ACTUAL BUDGET ACTUAL BUDGET ACTUAL BUDGET 28/2/2010 BUDGET Budget Salaries % Bad Debt Provision % Collection Costs % Depreciation % Repair & Maintenance External % Repair & Maintenance Internal % Interest External Borrowings % Contracted Services % Free Basic Electricity % General Expenditure % Internal charges % Total Other Expenditure 1, ,132 1,035 2,103 1,976 2,364 1,436 2,590 10% Bulk 1,946 1,942 2,185 2,135 2,866 2,843 3,852 2,476 4,842 26% TOTAL EXPENDITURE 2,994 2,812 3, ,170 4,969 4,816 6,216 3,912 7,432 20% 7

8 OTHER BUDGET INFORMATION Capital Budget for Electricity 2010/11 - R293mill. 2011/12 - R308mill. 2012/13 - R299mill. Add Capital Budget for prepaid meters R50 mill per year (for next 3 years) Mainly to address to escalating problem of non-payment 8

9 ELECTRICITY MAINTENANCE LEVY Implemented as follows: 2005/06-0,8% Of Sales 2006/07-2,0% Of Sales 2008/09-30%OfS 3,0% Sales Budgeted amounts: 2006/07 - R64 mill. 2007/08 - R113 mill. 2008/09 - R149 mill. 2009/10 - R170 mill. 2010/11 - R222 mill. 9

10 General factors affecting the determination of tariffs Income from investments 2009/10 Original Budget = R179 mill 2010/11 Approved Budget = R56 mill. Depreciation 2009/10 Original Budget = R306 mill. (Nett) 2010/11 Approved Budget = R712 mill. Interest on loans 2009/10 Original Budget = R275 mill 2010/11 Approved Budget = R470 mill. Bad Debt Provision 2009/10 Original Budget = R1 143 mill. 2010/11 Approved Budget = R1 373 mill. Negative impact (net) from 09/10 to 2010/11 Budget = R 954 mill. 10

11 MFMA Guidelines regarding Electricity tariff increases The National Treasury s Annexure to MFMA Circular No. 51, dated 23 March 2010, amongst other things, state the following:.. however, in their tariff applications to NERSA municipalities may motivate for higher increases, after considering all factors that impact on their electricity services, including: ensuring a reasonable rate of return on electricity assets; previous under- or over-recovery due to last year s increase being less than or greater than the actual 31,3 per cent increase; the cost of capital expansion programmes and repairs and maintenance; the labour (i.e. the wage agreements with unions) and other input costs or services provided by the municipality or entity; the need to ensure financial sustainability; local economic conditions, and the affordability of electricity services, taking into consideration the municipality s indigent policy. 11

12 Free Basic Services Service Number of Households Free Units Income Foregone Indigent Support Water - householdsh 426, ,390,515 Water - indigents (additional) 50, ,320,000 Sewerage - households 426, ,308,447 Sewerage - indigents (additional) 50, ,152,000 Refuse Removal - indigents 50,000 36,966,000 Electricity: Conventional Meters High Season (3 months) 48, ,435,130 Low Season (9 months) 48, ,392,364 Electricity: Pre-paid High Season (3 months) 160, ,801,600 Low Season (9 months) 160, ,856,000 FBE payable to Eskom consumers 107, ,000,000 Assessment Rates Residential Exclusions 465, , ,119,900 Assessment Rates - Indigents 50, ,000 49,500,000 TOTAL 1,227,803,956 60,438,000 12

13 Service Delivery Backlogs: Electricity Item Units Cost Electrification Formal Households R2 billion Network Upgrade - R800 million Street Lighting Poles R20 million Highmast Lighting 500 Masts R30 million Maintenance - R785 million Protective Structures Installed Number of Meters Protected Structures R60 million 13

14 Impact for City of Ekurhuleni if proposed tariff increases are not approved. - Current Surplus of Electricity = R508 mill. - Every 1% decrease in tariff represents R60 mill. loss in income (excluding adjustment of maintenance levy). - To counteract the loss of R60 mill. it would require Council to increase assessment rates with 2,5% - If average increase must decrease from 28,9% to 22%, the surplus from the Electricity Service will reduce with approximately R414 mill. to R94 mill. 14

15 Legal problems to amend approved Council tariffs - Council approved tariffs on 27 May Increases must be published 30 days prior to implementation - I.t.o MFMA, tariffs can only be amended once par year. - Any reduction of the electricity tariffs would result in a budgeted loss - Other tariffs cannot be amended to accommodate loss of income - MFMA does not permit Council to budget for a loss. - Council would not be in a position to amend the budget before 1 July Council would not be able to conduct any public participation resulting from the amendment of the tariffs. - NERSA is requested to approve the proposed tariffs with the condition that Council will apply the claw back principle in the following financial year. - If the proposed tariffs are not approved, NERSA is requested to indicate the specific tariff categories that should be amended. 15

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