CNBC Africa

Newsfeed

S.African court rules Eskom can recoup $685 mln more via power tariffs

PUBLISHED: Tue, 16 Feb 2021 15:54:31 GMT

JOHANNESBURG, Feb 16 (Reuters) – South Africa’s High Court ruled that utility Eskom could recoup 10 billion rand ($685 million) more from customers via power tariffs in the 2021/22 financial year, a copy of the judgment showed on Tuesday.

The judgment was based on an agreement between Eskom and regulator Nersa.

Eskom, which is mired in a financial crisis, says one of the major reasons for its financial woes is Nersa has consistently awarded it lower tariff increases than it has applied for.

($1 = 14.5882 rand) (Reporting by Tanisha Heiberg; Editing by Edmund Blair)

(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html

RELATED
FEATURED