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Eskom's R69 billion lifeline may help keep tariffs down, says energy analyst

20 February 2019 6:02 PM
Tags:
Eskom
Nersa
Energy crisis
R69 Billion

The cash-strapped power utility will get R69 billion over the next three years, Finance Minister Tito Mboweni announced.

Finance Minister Tito Mboweni has announced that Eskom will get R69 billion over the next three years.

Mboweni said in his maiden budget speech that state-owned enterprises (SOEs) pose a serious risk to the fiscal framework.

The cash-strapped power utility will get R23 billion in support each year over the three-year period, attached to several conditions including the appointment of an independent chief reconfiguration officer.

Mboweni maintains, however, that government is not taking on Eskom's debt.

Energy analyst Dirk De Vos says Mboweni's budget lacked enough clarity and detail.

There's not very much to get your teeth into and a lot of uncertainty and vagueness.

Dirk De Vos, Energy analyst and director - QED Solutions

De Vos believes however, that energy regulator Nersa may take into account government's financial support for Eskom when deciding on tariff increases for electricity.

They're making a decision on the tariffs in the next few weeks on whether to accept the 15% year-on-year increase... I think that is potentially good news for electricity consumers.

Dirk De Vos, Energy analyst and director - QED Solutions

20 February 2019 6:02 PM
Tags:
Eskom
Nersa
Energy crisis
R69 Billion

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