Eskom CEO Justifies Upcoming Tariff Increases

Power utility Eskom has again moved to justify future tariff increases.

The utility is struggling to reconcile a R488-billion debt burden which is mostly backed by the government.

Servicing the interest on its borrowing is now an uphill battle due to falling revenues.

CEO Andre De Ruyter said the utility must wean itself off the fiscus as this is taking money away from social services.

He was speaking at the annual fundraising event of the South African National Editor’s Forum.

He said, “this is money that is diverted from other key national priorities. Feeding schemes, it takes money from roads, hospitals and houses. Local service delivery. We need to wean ourselves off taxpayers support as soon as possible.”.