Power profits

2008-04-09 00:00

THE National Electricity Regulator of South Africa (Nersa) has given Eskom permission to have “commercially sensitive” information on its proposed 53% tariff increase withheld from publication. It’s a development at which a public, which finds load shedding likely to be an inconvenient feature of life for years to come, will look askance.

Last year Eskom reported a net profit of several billion rand. It is also known to pay out enormous performance (sic) bonuses to its executives. Why the secrecy? Why the price hike? Had this debacle happened in, say, France or Germany, they would all have been fired and the government would probably have fallen. Here, however, they get rewarded for incompetence.

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