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.
