Eskom’s R5-billion smelter gambit

Mail and Guardian 23 October 2012.

Eskom has called on regulators to help it cancel or adjust a sweetheart deal with BHP Billiton, which could earn it an extra R5.17-billion per year.

The mechanism to change the deal may not exist, and if it did, regulators might be wary of using it for fear it could open the gates to all manner of legal challenges. If those legal challenges failed, South Africa could take a knock to its reputation.

But perhaps those are risks worth taking for R5.17-billion per year…

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