Comparisons presented by Eskom to show that its tariffs are low compared to those in many other countries were met with scepticism on Thursday.
Browsing: Calib Cassim
Energy expert Chris Yelland has warned that if Eskom gets its way, the economy will go into “a nosespin”.
Eskom chief financial officer Calib Cassim has confirmed that Eskom has applied for an average tariff increase of 20.5% for the next financial year.
Energy regulator Nersa has presented four new options to Eskom for determining the tariffs it will be allowed to charge from 1 April next year.
After years of wrangling, South Africa appears no closer to finalising a plan to cut Eskom’s R402-billion of debt to more sustainable levels.
Eskom wants the government to take over about half of its debt so it can accept support pledged by rich nations to help reduce dependence on coal and cut emissions, City Press reported.
Eskom has filed an urgent application in the high court to prevent a situation where it will be unable to generate any revenue from 1 April next year.
Eskom has told investors it doesn’t currently need to approach the government for more support, even as a Covid-19-related national shutdown slashes revenue.
Eskom is approaching the courts in an effort to force energy regulator Nersa to reconsider electricity tariffs for the next three financial years.
South Africa’s indebted power utility Eskom was already searching for a CEO and an executive to lead a turnaround of the company. It will now have to cast its net even wider to include a treasurer.