Eskom wants tariff hike review
22/02/2008 10:19  - (SA)  

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Johannesburg - South African state utility Eskom, which is battling a nationwide power crisis, will ask the country's energy regulator to review a 14.2% tariff hike it granted the power firm last year, citing escalating coal prices.

Eskom said on Friday it wants an even higher increase than the 18.7% hike it had initially requested but was rejected by the country's energy regulator.

The 14.2% tariff increase is for Eskom's 2008/09 financial year, which runs from April to end-March 2009.

"We will be asking for a review of the 14.2% tariff increase for 2008/09, because market forces have moved materially, especially the price of coal, and there has to be a pass through on primary energy costs," Eskom's financial director, Bongani Nqwababa told Reuters.

"The tariff increase request will be much higher than when we made the application for an 18.7% increase."

- Fin24

- Reuters

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