Today's Labour News

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eskomEngineering News reports that embattled electricity utility Eskom has made shock adjustments to its revenue application currently before the National Energy Regulator of SA (Nersa), which, if approved, would translate into tariff increases that are even higher than the 15% a year hikes sought in its initial application.  

Eskom used the first day of the Gauteng leg of nationwide public hearings to unveil several material changes to its sales and production assumptions for the three years covered by the fourth multiyear price determination (MYPD4) submission before the regulator.  The changes, announced by CFO Calib Cassim in Soweto, mean that the utility is now seeking yearly hikes of 17.1%, 15.4% and 15.5% for 2019/20, 2020/21 and 2021/22 respectively.  These requested increases do not include the 4.41% upward tariff adjustment already approved for 2019/20.  They also don’t cater for any adjustment that could be made during the upcoming three-year tariff horizon as a result of Eskom’s RCA submission for the 2017/18 financial year.  Eskom also announced major updates to its assumptions regarding the composition of its coal fleet, the introduction and performance of the Medupi and Kusile power plants, as well as the energy availability factor (EAF) that could be achieved from the downsized fleet.

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