logo
Nersa blunders could cost South African taxpayers R40bn more for electricity

Nersa blunders could cost South African taxpayers R40bn more for electricity

Eyewitness News2 days ago
The settlement dates back to the financial years 2015 to 2021.
Eskom is likely to challenge the the R40 billion amount, believing Nersa's errors amount to more.
Nersa's electricity subcommittee is due to meet at a special meeting on Wednesday 16 July, where this is likely to be discussed.
Speaking to Stephen Grootes on The Money Show, energy expert, Ruse Moleshe says it has happened before where Nersa has been wrong and had to recover tariffs over a period of time.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Protesting e-hailing drivers say policy, rate changes have hit their pockets hard
Protesting e-hailing drivers say policy, rate changes have hit their pockets hard

Eyewitness News

timea day ago

  • Eyewitness News

Protesting e-hailing drivers say policy, rate changes have hit their pockets hard

JOHANNESBURG - Protesting e-hailing drivers have complained that policy and rate changes made by service providers have hit their pockets the hardest. The group demonstrated outside Uber offices in Parktown, Johannesburg, on Tuesday, aggrieved by policy changes that have resulted in deductions of up to 50% from the funds they make on each of their trips. Uber driver, Florence Mokgwale, said that she now made ten times less than what she used to when she started ten years ago. The drivers returned to demonstrate after handing over a memorandum on Wednesday, and were promised a response by the close of business, which did not happen. The memorandum of demands said drivers wanted e-hailing companies to reduce commission to below 20%. They want the clients to be charged R8 per kilometre and for waiting time to be 60 cents per minute. They also asked for amnesty for the impounding of cars, which costs a lot to get back. Mokgwale added that she was not able to make ends meet. "In a month, at the beginning, you probably get R40,000 to R50,000, that's the profit that comes to you, and now it's less, you can't even pay rent, it's not even R3,000, it's minus." The group consisted of drivers from Uber, Bolt and InDrive, who want better pay.

SMEs need to brace for reduced orders due to a 30% US tariff
SMEs need to brace for reduced orders due to a 30% US tariff

The Citizen

timea day ago

  • The Citizen

SMEs need to brace for reduced orders due to a 30% US tariff

The 30% tariff hike's impact will result in small profit margins, a risk of having to retrench employees, and slower business growth with fewer US sales. As of August 1, a 30% tariff on goods exported to the United States (US) will take effect, placing immense pressure on businesses, particularly small and medium-sized enterprises (SMEs). The automotive sector will be impacted severely by the 30% tariff hike, as the US is a significant export market for cars and car parts. Lula, an SME services provider, stated that businesses supplying parts, logistics, and services to these large manufacturers must brace for reduced orders, intense pressure on pricing, and therefore a significant loss of competitiveness against other exporters to the US, such as Brazil and China, which face only 10% tariffs. ALSO READ: US tariff of 30% on SA exports: where to now? Tariff hike to threaten job security Thomas McKinnon, Chief Growth Officer at Lula, added that the 30% tariff hike's impact will be felt more acutely and quickly by SMEs, as it will result in small profit margins, a risk of having to retrench employees, and slower business growth with fewer US sales. He highlighted that the agricultural and textile sectors, which have relied on the duty-free access provided by the African Growth and Opportunity Act (Agoa), are now left vulnerable. 'The tariff effectively neutralises the benefits of Agoa, jeopardising the livelihoods of thousands, particularly in rural communities that depend on exports of citrus, wine, and speciality textiles.' How can businesses survive with the tariff hike? McKinnon advises SMEs in these industries to shift their focus to reinforcing their unique value proposition while exploring new and emerging markets to absorb the capacity previously destined for the US. 'If your product offers exceptional quality, niche appeal, or a distinct competitive advantage, demand might persist even with higher tariffs.' ALSO READ: Ordinary South Africans will feel impact of US tariffs He added that from now on, every cent counts and businesses need to look for any big or small ways in which they can streamline operations, reduce waste, and negotiate better terms with suppliers. 'The tariffs will have a knock-on effect that we will more than likely see across the board, and SMEs need to be ready and prepared.' Can businesses survive? He said it is essential for businesses to recognise that most people are already financially strained. For instance, South Africans are paying significantly more for electricity after the Eskom tariff hike took effect. Therefore, for businesses to survive, they might need to absorb a portion of these tariff costs to remain competitive, making internal cost-cutting essential for maintaining margins. 'Consider short-term funding options to bridge any potential cash flow gaps during this transition period. Having agile financial solutions in place can provide a crucial buffer as SMEs adapt to the new economic landscape.' NOW READ: Trump's new 30% tariff less about trade and more about power

Eskom: Koeberg repairs won't worsen load-shedding this winter
Eskom: Koeberg repairs won't worsen load-shedding this winter

The Citizen

timea day ago

  • The Citizen

Eskom: Koeberg repairs won't worsen load-shedding this winter

Eskom has announced that Koeberg Unit 1 will now return to service by the end of August, instead of this month, due to additional steam generator maintenance. The unit was initially expected back online in July, but Eskom said the revised timeline reflects its commitment to thorough inspections and the highest quality standards at South Africa's only nuclear power station. 'During scheduled detailed eddy current inspections – a non-destructive testing method used to detect cracks, corrosion or wear in the metal tubes of steam generators – defects were identified on four tubes, among several thousand inspected, across two of the newly installed generators,' the power utility explained. Specialised international and local teams immediately carried out advanced automated repairs on the four tubes. Eskom confirmed these repairs have been successfully completed to uphold stringent safety standards. Major maintenance completed Eskom said major maintenance work, including the legally required 10-year Integrated Leak Rate Test (ILRT), had been successfully completed. The ILRT pressurised the reactor building over 72 hours to confirm its structural integrity and leak-tightness in line with international standards. Eskom group executive for generation Bheki Nxumalo emphasised: 'The safety of employees, the public and the environment remains our top priority. Carrying out these additional inspections and repairs to world-class standards is an investment in the long-term reliability of Koeberg and South Africa's energy future.' No increased load-shedding risk Eskom reassured that the delay will not increase the risk of load-shedding. Since mid-May, there has been no load-shedding, with only 26 hours of outages recorded between April 1 and Thursday. 'The winter outlook released on May 5 remains valid. Importantly, the planned return of 2 500MW this winter does not rely on Unit 1,' Eskom said. Unit 2 remains fully operational, generating up to 946MW with a year-to-date Energy Availability Factor of 99.38% at the end of June. – Read original story on At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store