Customers using rewards to mitigate electricity increases, FNB says

According to insights from financial service provider FNB, electricity spend is one of the largest spend categories for entry to middle income customers, and in the wake of the 15% increase in electricity tariffs for 2021/22, many households will have to review their monthly budgets to accommodate the increase and overall cost of living. FNB data shows that the average electricity spend by a customer who holds its Entry Market bank account (Easy account holder) increased by 9% (on average) between 2019 and 2020.