Eskom boss says sorry, but begs for raised tariff to cover a R50bn shortfall

Jason Felix

Cape Town – Eskom boss Phakamani Hadebe made a desperate plea for a 15% electricity tariff increase, and while apologising for the mess the state company finds itself in he admitted that price hikes alone would not be enough to cover an inevitable R50billion shortfall over two years.

Hadebe addressed civil groups and members of the public at the Cape Town leg of the National Energy Regulator of SA’s (Nersa) public hearings probing Eskom’s request for a 15% electricity tariff increase for 2019/20.

Painting a grim picture, Hadebe said Eskom’s total debt over the last 10 years increased to just over R400bn, adding that the crisis at Eskom was based on its money management and debt situation.

“South Africa has the cheapest electricity in the world, but that means nothing to the public out there. We also need to apologise to the public. There have been avoidable issues