South Africa’s power utillity announced on Thursday it had postponed the release of its interim results until next year so it could assess the impact of the lower than expected tariff hike it was granted by the national energy regulator.
“Eskom’s interim results announcement has been postponed until early next year in order to afford us the opportunity to review the impact of the 5.23% price increase as well as to allow the newly-appointed board members sufficient time to review the financials,” the state-owned company said in a statement.
“Eskom will release the results as soon as possible to ensure effective business continuity,” said Acting Chief Financial Officer Calib Cassim.
Last week the National Energy Regulator of South Africa said it had turned down Eskom’s request of a tariff hike of 19.9 percent, instead granting it a 5.23 percent hike which it would pass on to consumers and municipalities for the 2018/19 financial year.
The energy regulator said it had tried to strike a balance between the interests of power producers and consumers.
– African News Agency (ANA)