Financial compliance expert Paul Nel says South African consumers of electricity have been overcharged by R1.375 trillion in electricity tariffs over the past 15 years.
Eskom, despite an impressive revenue surge attributed to a significant electricity tariff hike, grapples with a staggering R5 billion pre-tax loss for Q1 2023.
COSATU denounces NERSA’s callous decision to approve an 18% electricity tariff increase for Eskom which will be a big blow to all.
South Africa is hiring an independent contractor to advise on conditions it should attach to debt relief for Eskom, said Enoch Godongwana.
The High Court’s finding will be to prevent all municipalities from using their monopoly over electricity supply as a bottomless slush fund financed by ratepayers.
Eskom has asked the National Energy Regulator of South Africa for a 32.66% price hike, according to Sunday newspaper Rapport.
Poor service delivery could see municipalities lose revenue from electricity tariffs as more private power producers come online.
Analysts almost unequivocally agree that the financial health of SA’s power utility, Eskom, is the country’s single biggest economic threat.
The ANC has ruined Eskom with corruption, racial engineering, incompetence and mad policies. It failed to build power stations and so we ran out of electricity in 2007.
If Eskom gets its way with NERSA, users will experience a massive price shock. The political repercussions of paying for the disaster at Eskom could soon be upon us.