South Africa’s power utility Eskom has reduced its tariff hike request to 9.5 percent from 12.7 percent, acting chief executive Brian Molefe said on Tuesday.
Molefe was speaking at a public hearing held by the National Energy Regulator of South Africa (Nersa) to discuss the latest tariff increase request by the power utility.
Eskom’s downgraded credit ratings form part of the argument for the increase, as Malofe says they have made it more difficult to borrow money.
Another issue that has been raised at the meeting is when these increases will come into effect.
Nersa says that if the increase is granted, Municipalities will only put it into effect next year.
Reuters/ Timeslive
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