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Nersa To Review Electricity Tariff Hike, Jobless Data & SARB FSR On Tap

SOUTH AFRICA
  • South Africa's energy regulator Nersa will review the proposal of its electricity subcommittee whether it can recover 32% more revenue from electricity users in 2023. It will also announce the size of the tariff hike for the subsequent year, with Eskom calling for a 10% rise.
  • Energy Minister Gwede Mantashe told News24 that Eskom CEO should be replaced with somebody with a more technical background. Public Enterprises Pravin Gordhan and President Cyril Ramaphosa have repeatedly thrown their weights behind the current CEO Andre de Ruyter.
  • Statistics South Africa will publish quarterly unemployment data, with headline figure for Q3 expected to print at 33.5% versus Q2's 33.9%. Looking further afield, the SARB will release its biannual Financial Stability Review in the afternoon.
  • South Africa's M3 money supply grew 9.82% Y/Y in October, beating the 8.80% consensus forecast. Private sector was up 9.34% Y/Y, missing the 9.70% median estimate.
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