Eskom’s pursuit of ‘strong balance sheet’ poses threat to SA economy — DA

Business Day Live 21 November 2012.

SOUTH Africa’s economy was being sacrificed on the alter of Eskom’s balance sheet, said Democratic Alliance (DA) MP Geordin Hill-Lewis, who also accused the power utility of using unorthodox methods in calculating its depreciation of assets.

On Wednesday, Eskom CEO Brian Dames and chief financial officer Paul O’Flaherty appeared for the second time this month before Parliament’s trade and industry committee to explain the rationale for the power utility’s requested tariff increases and the possible effect it could have on business.

Eskom has applied to the National Energy Regulator of South Africa (Nersa) for a 16% increase annually in its tariffs for five years starting in 2013…

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