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

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our mailing list

* indicates required

Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Venezuela inflation rate expected to top 1 000 000% by year-end

Venezuela inflation rate expected to top 1 000 000% by year-end

Venezuela – once as rich as Norway – is suffering an apocalyptic collapse without precedent.

What is a hedge fund?

What is a hedge fund?

The Money Show’s Bruce Whitfield interviews Fairtree Capital Portfolio Manager Jean-Pierre Verster.

100-year-old Truworths reports fewer sales and a 7.3% decline in earnings

100-year-old Truworths reports fewer sales and a 7.3% decline in earnings

The Money Show’s Bruce Whitfield interviews Truworths CEO, Michael Mark.

We have made progress in delivering on our promises to Marikana – Lonmin CEO

We have made progress in delivering on our promises to Marikana – Lonmin CEO

The Money Show’s Bruce Whitfield interviews Lonmin CEO Ben Magara.

4 tips for safely investing right now when everything is so hectic

4 tips for safely investing right now when everything is so hectic

Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.

Solutionist Thinking: In Conversation with Stacey Brewer

Solutionist Thinking: In Conversation with Stacey Brewer

A school with individual learning paths for each child, and no need for textbooks? SPARK Schools CEO Stacey Brewer joins Bruce Whitfield.

Popular articles
 In the market for a 2nd hand car? Here are some tips to buy it on a budget!

In the market for a 2nd hand car? Here are some tips to buy it on a budget!

In the car feature, our very own car guy Tumelo Maketekete shares some tips and tricks to buying a car on a R100 000 budget.

Vigilante mob attacks alleged criminals in Daveyton

Vigilante mob attacks alleged criminals in Daveyton

Tensions are rife in the East Joburg township as the community attacked and killed criminals.

'Citizens have a right to ask for identification from police during a roadblock'

'Citizens have a right to ask for identification from police during a roadblock'

Major General Michael Mohlala explains the procedure of conducting a roadblock and what to do when you are stopped.

Jacques Pauw: We need more evidence on the 'The Lost Boys of Bird Island' book

Jacques Pauw: We need more evidence on the 'The Lost Boys of Bird Island' book

Investigative journalist and author Jacques Pauw shares his thoughts on 'The Lost Boys of Bird Island' book.

[WATCH] Is it a cow's penis or an udder? Well, this kid thinks it's a penis

[WATCH] Is it a cow's penis or an udder? Well, this kid thinks it's a penis

Check out the videos, tweets, Facebook posts that have gone viral and why this kid cheered her dad on in the toilet.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.