{"id":12388,"date":"2012-07-14T00:42:00","date_gmt":"2012-07-13T22:42:00","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/update-2-s-africas-eskom-seeks-big-jump-in-power-rates-document\/"},"modified":"2012-07-14T00:42:00","modified_gmt":"2012-07-13T22:42:00","slug":"update-2-s-africas-eskom-seeks-big-jump-in-power-rates-document","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-s-africas-eskom-seeks-big-jump-in-power-rates-document\/","title":{"rendered":"UPDATE 2-S.Africa’s Eskom seeks big jump in power rates-document"},"content":{"rendered":"

\t\t<\/span><\/p>\n

(Adds Eskom comment)<\/span><\/p>\n

<\/span><\/p>\n

CAPE TOWN, July 13<\/span> (Reuters) – South African power utility
\nEskom may apply to raise electricity rates by as much
\nas 19 percent a year on average over five years, a confidential
\ndocument obtained by Reuters showed on Friday.<\/p>\n

<\/span><\/p>\n

Eskom said in a statement it had yet to finalise the
\napplication it will submit to the national energy regulator for
\nthe rate hikes to take effect from April of next year.<\/p>\n

<\/span><\/p>\n

In the document obtained by Reuters, Eskom said it could
\nseek increases of at least 14.6 percent a year on average over
\nthe period and possibly as much as 19 percent, depending on
\ncertain government decisions.<\/p>\n

<\/span><\/p>\n

Eskom needs to fund an expansion drive and build new power
\nplants to keep the lights on in Africa’s largest economy.<\/p>\n

<\/span><\/p>\n

Sharply rising power rates have added hugely to the costs of
\nkey sectors such as mining in the world’s biggest platinum
\nproducer.<\/p>\n

<\/span><\/p>\n

<\/span><\/p>\n

Eskom, one of the world’s lowest-cost electricity producers,
\nwhich provides 95 percent of the country’s power, was granted
\nthree years of 25 percent power tariff hikes in 2010.<\/p>\n

<\/span><\/p>\n

“In the base case Eskom requests revenues totalling 1.07
\ntrillion rand ($128 billion) over the five-year period, which
\ntranslates into annual average price increases of 14.6 percent,”
\nBrian Dames, Eskom’s CEO, said in the document marked “strictly
\nconfidential”.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

(Adds Eskom comment) CAPE TOWN, July 13 (Reuters) – South African power utility Eskom may apply to raise electricity rates by as much as 19 percent a year on average over five years, a confidential document obtained by Reuters showed on Friday. Eskom said in a statement it had yet to finalise the application it […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12388","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12388"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12388\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}