<form id="lwufo"><acronym id="lwufo"></acronym></form>
          Log in
          E-mail
          Password
          Remember
          Forgot password ?
          Become a member for free
          Sign up
          Sign up
          New member
          Sign up for FREE
          New customer
          Discover our services
          Settings
          Settings
          Dynamic quotes 
          OFFON

          MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

          News : Economy & Forex
          Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
          All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

          South African energy regulator allows Eskom to claw back $718 mln in tariffs

          share with twitter share with LinkedIn share with facebook
          05/16/2020 | 04:26am EDT
          The shadow of new Chief Executive of state-owned power utility Eskom Andre de Ruyter is seen as he speaks at a media briefing in Johannesburg

          South African energy regulator Nersa said on Friday it will allow utility Eskom to recover 13.3 billion rand ($718 million) from customers for electricity supplied in the 2018/19 financial year, lower than what the state-owned power utility had applied for.

          Nersa said in a statement it will give its reasons for the decision once certain requirements have been finalised and will draw up an implementation plan for recovering the tariffs within a reasonable period of time.

          Cash-strapped Eskom applied in August 2019 to Nersa to claw back 27.3 billion rand from electricity customers through power tariffs, saying it needed to cover costs incurred for the financial year 2018/19.

          Eskom was not immediately available for comment on Friday.

          Eskom supplies more than 90% of South Africa's electricity but is struggling with high debts and faulty power stations which prompted it to impose several rounds of severe power cuts last year, hurting the country's economy.

          Eskom is dependent on government bailouts to stay solvent and the perilous state of its finances is one of the biggest risks to South Africa maintaining its investment-grade credit rating.

          ($1 = 18.5241 rand)

          (Reporting by Nqobile Dludla; Editing by Susan Fenton)

          Stocks mentioned in the article
          ChangeLast1st jan.
          DOW JONES AFRICA TITANS 50 INDEX 0.68% 473.34 Delayed Quote.-12.49%
          DOW JONES SOUTH AFRICA(ZAR) -1.18% 1700.47 Delayed Quote.-5.75%
          S&P AFRICA 40 INDEX 0.22% 158.04 Delayed Quote.-8.72%
          share with twitter share with LinkedIn share with facebook
          Latest news "Economy & Forex"
          02:32aEXCLUSIVE : Alibaba, Jack Ma summoned by Indian court on former employee's complaint
          RE
          02:31aChina's soybean imports from Brazil rise to record in June
          RE
          01:06aLUIS DE GUINDOS : 營nterview with El Independiente
          PU
          12:42aCoronavirus deaths hit ArcelorMittal plant in Mexico - union
          RE
          12:38aMalaysia's mega 1MDB scandal that brought down a prime minister
          RE
          12:36aMalaysia faces crucial graft test as Najib?s first 1MDB verdict looms
          RE
          12:01aAlibaba, Jack Ma summoned by Indian court on former employee's complaint
          RE
          07/25Joint EU debt must not become a regular thing - Germany's Weidmann
          RE
          07/25BANK OF JAMAICA : Results for GOJ Issue July 24 2020
          PU
          07/25Argentina says it will not raise 'last' debt offer, willing to tweak legal terms
          RE
          Latest news "Economy & Forex"
          官方真人棋牌游戏平台