Eskom, is proposing that its consumers pay 19.9% more for their power from 1 April 2018. In addition, the proposal seeks 27.3% more from municipalities for bulk electricity purchases from July 1 2018
According to Fin24 reports , Eskom which is on the verge of insolvency had only R1.2 billion left in liquidity reserves. Eskoms crises had beeen caused by a governance and management crisis that is scaring off investors.
Speaking at the final public hearing in Gauteng, Eskom Interim Group Chief Executive Sean Maritz said, “We continue with our intense debt collection strategy to recover unpaid debt from all customers, including Soweto and defaulting municipalities.
The energy regulator, Nersa, still has to announce the tariff increase for 2018/19 and implement the Regulatory Clearing Account (RCA) clawbacks, Treasury reportedly said.
Nersa is currently holding hearings into Eskom’s proposed increase of 19.9 percent.
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