There is a papgeld kind of feel to the relationship between Eskom and the National Energy Regulator of SA (Nersa).

The energy regulator decides how much the power producer receives — not in child maintenance (papgeld), but in the form of electricity tariff increases. And Eskom is usually unhappy with what it gets as it needs to pay the bills and run a massive household on what Nersa decides it should.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now