Price hike: 'Sooner the better'
25/03/2008 15:45  - (SA)  

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Cheap power age over for SA Power price hike: Deal with it Now, Eskom demands 53% hike

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Cape Town - Power utility Eskom's finances could deteriorate badly if it is not allowed to further raise its tariffs, jeopardising its ability to raise capital, Minister of Public Enterprises Alec Erwin said on Tuesday.

"It will be better for everybody to take those costs now rather than wait to 2009," Erwin told parliament.

"If you do not do that Eskom's financial situation deteriorates so badly, it would not be able to raise capital," he said, adding however that there was no evidence a shortage of electricity, as Eskom struggles to meet demand, would lead to an economic recession.

- Reuters

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