The Democratic Alliance demanded answers from the government on Monday on what its bailout plan for the embattled state electricity utility Eskom will entail. Responding to Sunday’s announcement by cabinet that it had approved a funding package to help Eskom with its R225bn
Trade union federation Cosatu on Wednesday vowed to fight “to the bitter end” any attempts to privatise Eskom. “Cosatu is not surprised by media reports that there are moves within government to privatise Eskom,” spokesman Patrick Craven said in a statement. “This is a continuation of an agenda
Consumers will see an additional electricity price hike next year after energy regulator Nersa announced on Thursday it had approved the regulatory clearing account for Eskom. “The National Energy Regulator of South Africa
The money Eskom is hoping to claw back from the National Energy Regulator of South Africa (Nersa), in an effort to plug its revenue shortfalls, could potentially mean as much as a 9% increase in electricity tariffs if it is approved. But the regulator has warned that any increase would be carefully weighed
Although Eskom turned a R7bn profit according to its results released on Friday, the state-owned entity has warned this will not be sufficient to plug the R225bn revenue shortfall it faces over the next five years. The country, in the meantime, faces continued power constraints as the first unit of new power
City Power announced on Thursday that it would increase its tariffs by an average of 7% from 1 July after the National Electricity Regulator of South Africa approved hikes. Nersa approved City Power’s tariff increase application across different consumer segments
South Africa’s power system will remain in peril during winter, acting Eskom CEO Collin Matjila said on Thursday. “The country still remains vulnerable and it will be the same during winter,” Matjila told reporters in Johannesburg. “While we continue with maintenance as part of our strategy to have remaining
Eskom will know by the end of the month whether it needs to increase its electricity tariffs, it said on Thursday. In a statement, the state-owned enterprise said it was awaiting a determination from the National Energy Regulator of South Africa. It asked Nersa last year to evaluate and approve the regulatory clearing account balance for its previous
Eskom’s cash flow situation is “very stable”, the power utility said on Friday. “Eskom would like to reassure the nation at large that its cash flow situation is very stable,” the company said in a statement. The power utility managed its cash flow in a responsible manner, and always made sure it had sufficient liquidity. The company had stated
Financially embattled Eskom has run to the government for additional funding to pay its spiralling bills. But the treasury has refused and said it will not fund the utility from its strained coffers, and the energy regulator couldn’t help even if it wanted to. Faced with a shortfall
