Eskom's urgent court bid to hike electricity prices is dismissed

Without soaring tariff increases, Eskom runs the risk of defaulting on its R441bn debt.An urgent court bid by ailing power utility Eskom, which would have seen electricity prices raised by 16.6% and then another 16.7% over the next two years, was dismissed by the Pretoria high court on Monday.

Judge Jody Kollapen found the matter was not urgent and that the bid to have electricity prices raised would be heard on the normal court roll. In papers before court, Eskom held that without these tariff increases it could default on payments to lenders, triggering the immediate payment of its national debt burden of R318bn, which is guaranteed by the government.

u can't hike prices of something that doesn't work...get it working 100% then worry about hiking prices

🤔🤔

Fire next time...

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