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Free AccessEskom Chair Says Ramaphosa Did Not Ask For Tariff-Hike Suspension
- Eskom chairperson Mpho Makwana said that President Cyril Ramaphosa has never asked the board to hold off on the electricity tariff hike approved by the national energy regulator but did ask the utility to reduce the impact of the move. According to Makwana, should Ramaphosa refuse to implement the tariff hike, it would constitute a neglect of duties. Separately, outgoing Eskom CEO De Ruyter said that the utility needs "cost-reflective tariffs" or otherwise "will be back with our begging bowl at the National Treasury's door in three to five years time."
- News24 reported that President Ramaphosa intends to deliver his State of the Nation Address before reshuffling his Cabinet. The SONA has been scheduled for 19:00 local time on Thursday.
- There is little of note on the local docket today, with mining and manufacturing data coming up tomorrow, hours before Ramaphosa's speech.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.