On Thursday it was announced that Eskom will be increasing electricity costs by 12.7% from 1 April, as well as by another 5.36% and 6.19% in the following two financial years. While it is less than the dreaded 36% touted in recent months, the increase will still have consumers paying a compound increase of 26.09% by 1 April 2027.

South Africa’s energy regulator allowed state-owned Eskom Holdings SOC Ltd. to raise electricity tariffs by 12.7%, well below the amount requested by the debt-laden utility that’s trying to turn around its finances.