Eskom foots R7bn bill for diesel in 2021 with no respite ahead
Spike in oil prices as result of the war in Ukraine will probably add to the debt-stricken power utility’s financial problems
21 April 2022 - 13:19
UPDATED 21 April 2022 - 18:59
Eskom spent R7bn on diesel used to run its gas turbines in the 2021 financial year to end-March and that number is likely to rise in 2022 as oil prices spike due to the war in Ukraine.
The state-owned utility has debt of about R392bn and the rising cost of diesel will add to its woes. Further squeezing its finances is the decision by the National Energy Regulator of SA (Nersa) to approve only a 9.6% tariff increase for 2022/2023, after Eskom applied for a 20.5% hike. ..
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.