Eskom delays financial results, blames low Nersa tariff increase
Eskom has postponed the announcement of its interim results until early next year, "in order to afford us the opportunity to review the impact of the 5.23% price increase as well as to allow the newly appointed board members sufficient time to review the financials", the power utility said on Thursday.
An indication was given last week that the interim results would be released before the end of December.
Eskom said it was assessing the impact of the lower than anticipated tariff increase for the 2018-19 financial year approved by the National Energy Regulator of South Africa (Nersa) last Friday.
Nersa approved an allowable revenue of R190bn, resulting in an average percentage price increase of 5.23% — against Eskom’s request for an average standard price increase of 19.9%.
"Eskom will release the results as soon as possible to ensure effective business continuity," said acting chief financial officer Calib Cassim said.