Eskom in bid to recoup R22.8bn in Nersa application

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Johannesburg - Failure to get the R22.8bn Eskom wants to recover in its application to the National Energy Regulator of South Africa (Nersa) will weaken the power utility’s balance sheet and worsen its financial ratios, Eskom finance director Anoj Singh said on Wednesday.

Eskom has submitted a so-called Regulatory Clearing Account (RCA) application to Nersa for the 2013/14 financial year, the first year of the Third Multi-Year Price Determination (MYPD) period.

The RCA is a backward-looking mechanism that seeks to reconcile what Nersa awarded Eskom on the basis of what was forecast in the MYPD and what materialised, as reflected in the utility’s financial statements. Nersa’s decision on the application could impact future electricity prices, Eskom said.

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