Eskom wants electricity tariffs to increase by 25%

Eskom will ask the National Energy Regulator for an electricity tariff increase of 25.3 percent from 1 July.

The request for a much larger than expected tariff hike reportedly has the backing of Government’s so-called “war room”.

S&P downgrades Eskom credit rating to junk

Ratings agency S&P has downgraded Eskom’s credit rating to BB+.

The announcement came late on Thursday and will cause a spike in the cost of borrowing for the beleaguered utility.

S&P also put Eskom on a "negative outlook," citing last week's unexpected suspension of Eskom CEO Tshediso Matona and three other senior executives.

The ratings agency says it doesn't have confidence in government's support plan and that Eskom's operating performance hasn't stabilised because of a spike in costs and the extremely tight generation capacity margin.


This article first appeared on 702 : Eskom wants electricity tariffs to increase by 25%


Recommended

by NEWSROOM AI
Read More
How to get rich by investing in smoking hot US and Canadian dagga shares

How to get rich by investing in smoking hot US and Canadian dagga shares

Returns of 500% are not unheard of. Is this another crypto-like bubble? Not in the least, says Financial Advisor Warren Ingram.

Tax ombud to probe Sars – yet again - after taxpayers complain

Tax ombud to probe Sars – yet again - after taxpayers complain

The Money Show’s Bruce Whitfield interviews Adv. Eric Mkhawane, CEO at the Office of the Tax Ombud.

Got debt? Why the Sarb probably won't have a nasty surprise in store on Thursday

Got debt? Why the Sarb probably won't have a nasty surprise in store on Thursday

To hike interest rates, or not to hike interest rates? Bruce Whitfield interviews Standard Bank Chief Economist Kevin Lings.

Hits from the bong (it’s legal!)… then off to work I go?

Hits from the bong (it’s legal!)… then off to work I go?

The consequences of consuming dagga at home and showing up at the office high. Bruce Whitfield interviews a labour lawyer.

The ANC cannot claim innocence - Mahlatsi Mahlase (Sanef)

The ANC cannot claim innocence - Mahlatsi Mahlase (Sanef)

The Money Show’s Bruce Whitfield interviews Mahlatsi Mahlase of the South African National Editors Forum (Sanef).

S&P downgrades Eskom credit rating to junk

S&P downgrades Eskom credit rating to junk

Ratings agency S&P has downgraded Eskom’s credit rating to BB+.

Popular articles
'My hubby is 75 and we still do it' - stories about sex on the other side of 50

'My hubby is 75 and we still do it' - stories about sex on the other side of 50

Is biology putting the brakes on your sexuality? Callers share their experiences of sex and growing older.

'Some weed plants with high levels of chemicals have been linked to psychosis'

'Some weed plants with high levels of chemicals have been linked to psychosis'

Naked Scientist, Chris Smith shares his insights on some of the risks associated with smoking marijuana.

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

DStv Premium on a downward spiral, warns tech guru

DStv Premium on a downward spiral, warns tech guru

DStv has lost about 140 000 Premium subscribers to Netflix over the past two years, tech expert Arthur Goldstuck.

Tips on how to stop unauthorised debit orders

Tips on how to stop unauthorised debit orders

CEO of Payments Association of SA, Walter Volker says these fraudsters get a list of debit orders from unscrupulous employees.

Tell me what you want: Study reveals most common sexual fantasies

Tell me what you want: Study reveals most common sexual fantasies

What are your sexual fantasies? Disclosure can bring sexual freedom, but it can also have downsides. A study lists the top trends.

Dr Eve busts myths about the female orgasm that could change your sex life

Dr Eve busts myths about the female orgasm that could change your sex life

As many as 1 in 3 women have trouble reaching orgasm when having sexual play, clinical sexologist Dr Eve explains.