for subscribers

Molefe: Hike of 'only' 9.4% will have consequences

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
Eskom CEO Brian Molefe.
Eskom CEO Brian Molefe.

Cape Town – The risk of load shedding could increase as a result of energy regulator Nersa’s decision to give Eskom only half of its required tariff increase, the power utility said on Tuesday.

Eskom CEO Brian Molefe said the decision to approve an electricity price increase of only 9.4% does not help Eskom’s financial sustainability and “will have operational consequences”.

“We will do our best to minimise the risk of load shedding, striking a balance with Eskom’s already depleted balance sheet,” he said in a statement.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.33
(-0.06)
ZAR/GBP
21.08
(-0.04)
ZAR/EUR
19.33
(-0.03)
ZAR/AUD
11.90
(-0.03)
ZAR/JPY
0.16
(-1.15)
Gold
1949.72
(+0.03)
Silver
26.74
(+0.09)
Platinum
928.80
(+0.44)
Brent Crude
43.52
(-0.32)
Palladium
2356.01
(+0.63)
All Share
54673.65
(-0.66)
Top 40
50399.16
(-0.59)
Financial 15
9841.32
(-2.14)
Industrial 25
72558.00
(-1.08)
Resource 10
55438.10
(+0.58)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1291 votes
It depends on how the funds are used.
73% - 8612 votes
No. We should have gotten the loan elsewhere.
16% - 1896 votes
Vote