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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.  ..

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