Business In The News South Africa

Public hearings into Eskom’s RCA application gets underway in Cape Town

CAPE TOWN, APRIL 16 – Public hearings into South African power utility Eskom’s application to make up for revenue variances kicked off in Cape Town on Monday.
In a statement, Eskom said it was expected to make presentations during day one of the hearings which are set to take place across the country over the next three weeks.
Eskom is trying to recoup R66.6 billion through its regulatory clearing account (RCA) applications to Nersa.
The RCA is a regulatory mechanism which allows Eskom to make up for the over or under recovery of costs as the multi-year tariff adjustments are based on forecasts.
“Eskom endeavours engaging in an open and transparent manner with all stakeholders to highlight that the RCA under review aims to recover efficient and prudent costs incurred from the previous financial years (2015, 2016 and 2017) and to account for sales volume variances,” said Eskom chief financial officer Calib Cassim.
– African News Agency (ANA)

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