Eskom to receive bail out from government
Govt confirmed that over R10 billion will be allocated by the state to Eskom.
It has been reported that a potential multibillion rand government boost for cash-strapped Eskom could become a reality.
Finance Minister Nhlanhla Nene confirmed that more than R10 billion will be allocated by the state to Eskom, but says details will be revealed in his first budget speech to be held next month (February).
The comepany has been battling to keep up with demands due to limited generating capacity, ageing infrastructure as well as several technical issues at a number of its power stations
It has also been reported that Eskom needs to raise tariffs in order to recover some of its operating costs.
Consumers will be hit with a 12.69 percent electricity tariff hike in April.
At the same time, Eskom has also warned of rolling blackouts to relieve pressure on the national electricity grid.
