Eskom 20% hike re­quest ‘like push­ing wa­ter up­hill’

The New Age (Western Cape) - - Inside -

ESKOM says its liq­uid­ity was dras­ti­cally af­fected by the be­low in­fla­tion tar­iff in­crease of 2.2% for the 2018 fi­nan­cial year. The tar­iff in­crease of 5.23% for this year, as pro­posed by reg­u­la­tor Nersa, will fur­ther af­fect the liq­uid­ity of the com­pany.

Chair­per­son Jabu Mabuza said yes­ter­day Eskom was “push­ing wa­ter up­hill in ask­ing for a 20% tar­iff hike”.

“Tar­iffs are not nec­es­sar­ily the panacea for all of Eskom’s prob­lems, how­ever, it’s not right to have an ac­ri­mo­nious re­la­tion­ship with the en­ergy reg­u­la­tor.”

The group’s in­terim prof­its were down 34% to R6bn due to de­clin­ing sales and higher fi­nance costs.

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