Eskom pleads for tariff hikes and state bailout to avert disaster
An immediate financial crisis looms as banks stop lending
Eskom CEO Phakamani Hadebe on Monday made a desperate plea for three years of substantial tariff hikes and a massive government bailout, which he said was necessary to pull the power utility back from the debt cliff and avert disaster. Hadebe was addressing hearings held by the National Energy Regulator of SA (Nersa) to query Eskom’s application for a 15% tariff increase beginning in 2019/2020, which would result in a total increase of 52% over the three-year period, significantly above the Reserve Bank’s inflation target of 3%-6%. If you are already a subscriber, please click on the following link to go to the full article: Eskom pleads for aid to escape ‘debt trap’ If you would like to subscribe to BusinessLIVE to read the full story, please click here.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.