Petroleum Africa
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Monday, March 17, 2014
South Africa’s state-run Transet has been granted an increase in its petroleum pipeline tariff by the country’s National Energy Regulator of South Africa (Nersa), although Nersa did not give the company the actual increase asked for. The increased tariff will give Transnet a 5.08% rise in revenue, short of the nearly 20% increase Transnet applied for.
In a statement Nersa said the new tariff represented an increase from about R2.795-billion in 2013/14 to about R2.937-billion for the 2014/15 financial year.
While the increase in revenue is good for Transnet, consumers will be taking a slight hit to cover the increased tariff. Petrol prices will see a rise of 3.8c/l, or 0.26% in the March 2014 retail price of 93 octane petrol in Gauteng. On the other hand, if Transnet had received the increase it had applied for, consumers would have saw petrol prices rising 7.03c/l.
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