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Eskom asks for 17% tariff hike

Energy regulator – Nersa – will be hosting public hearings on Eskom’s proposal to recoup R22.8bn through a regulatory clearing account (RCA) from 18 January to 5 February 2016. The shortfall includes an estimated R8bn that the utility spent on diesel during the 2013/2014 financial year and R11.7bn for a shortfall in revenue.

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Gloomy outlook after four days of blackouts

The Times reports that the current power crisis will plunge some suburbs into darkness for an excess of 50 hours this week and the prognosis is bleak well into the new year. This comes on the back of a string of problems that have rocked Eskom over the past nine months, including the silo that collapsed at Majuba, a diesel shortage two weeks ago and wet coal in March.

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Steps taken to safeguard Eskom

In his maiden Medium Term Budget Policy Statement (MTBPS) in October, Finance Minister Nhlanhla Nene said that steps to safeguard power parastatal Eskom have been taken to secure its financial stability. Eskom will borrow R250bn over the next five years supported by existing guarantees from government. Government will provide at least R20bn in funding raised through the sale of non-essential assets.

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