Eskom agrees to reduce tariffs after investigation

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BONUS - RUSTENBURG- The Soweto NERSA hearings into Eskom’s record-breaking R66bn RCA claim (Regulatory Claim Account) took an unexpected turn on Friday, 11 May when Eskom was forced to present responses to accusations of fraud, corruption and poor execution.

After Eskom’s avoidance of the issue, Ted Blom, a partner at Mining & Energy Advisors and Energy Expert coalition, launched a devastating attack by again highlighting the hundreds of billions of rand lost to questionable spending and corruption.

Blom, who revealed the extent of corruption inside Eskom after travelling to Nersa’s Cape Town hearings in April, states “This has been a 10-year fight where Eskom have resisted at every step. I am pleased to say Nersa forced Eskom’s hand on Friday by demanding the issue to be addressed in closing comments”.

Nersa then insisted Blom present further arguments at the final hearings on Monday, 14 May.

Eskom reluctantly admitted corruption could have had a hand in their Tariff increase application but insisted that since the investigations are now imminent, Nersa should allow the increases. Eskom further noted they would voluntarily apply to Nersa to reduce tariffs in future once investigations had been wound up.