Wednesday, December 23, 2009

Eskom could cost the country trillions

By Kim Saulse
23 December 2009


The South African Chamber of Commerce and Industry says the economy will lose more than R150 billion dollars, or more than a trillion rands, if state-owned power utility Eskom follows through plans to raise its tariffs.

Sacci says raising power costs by 35 % a year over the next three years will boost inflation and cost as many as half a million jobs.

Eskom has applied to Nersa to raise tariffs to help fund a R385 billion expansion plan.

The plan is believed to be in place to avoid a repeat of power outages that shut mines for five days last year.

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