Eskom wants you to pay 19.9% more for electricity… or else!

I understand it’s not going to be a strike on Thursday… it’s going to be protest action… Keeping salaries at zero is not enough. Eskom is grossly overstaffed… I see civil unrest looming…

Chris Yelland, EE Publishers

The prices of solar rooftop systems are going down. The price of Eskom electricity is going up. There is a business case… There is going to be a significant amount of solar rooftop PV… it will play havoc with Eskom’s planning… it will have to fundamentally relook its business model…

Chris Yelland, EE Publishers

Eskom wants consumers to fork out an additional R66.7 billion through electricity price hikes, or else it may be unable to continue operating.

The state-owned utility has asked the High Court the set aside the energy regulator’s (Nersa) decision to award a tariff hike of 5.23%, instead of the 19.9% Eskom applied for.

Eskom also wants the court to declare unconstitutional Nersa’s delay in processing its three applications for interim tariff increases in terms of the Regulatory Clearing Account methodology (RCA).

To compound Eskom’s woes, and those of punch-drunk consumers, trade unions are threatening industrial action.

Eskom is offering no salary increases while unions demand a 15% pay hike.

The Money Show’s Bruce Whitfield interviewed Chris Yelland, MD at EE Publishers.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

It [Eskom’s debt] is likely to peak at around R500 billion… Debt is a big problem.

Chris Yelland, EE Publishers

They [new Eskom board] are having a positive impact… But the utility is facing very serious problems…

Chris Yelland, EE Publishers

The demand for electricity is down 3%... it’s continuing a downward trend…

Chris Yelland, EE Publishers

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