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Eskom gets carbon tax relief
South Africa will extend the first phase of its carbon tax plan by three years, which could delay an increase in rates for companies including its coal-reliant state power utility.
Eskom Holdings SOC Ltd. has estimated an annual carbon-tax bill of around R11.5 billion ($763 million) when exemptions run out at what was supposed to be the start of the program’s planned second phase in 2023.
The initial period will now be extended to the end of 2025, according to the budget review presented by Finance Minister Enoch Godongwana on Wednesday.
[Bloomberg]
South Africa will extend the first phase of its carbon tax plan by three years, which could delay an increase in rates for companies including its coal-reliant state power utility.
Eskom Holdings SOC Ltd. has estimated an annual carbon-tax bill of around R11.5 billion ($763 million) when exemptions run out at what was supposed to be the start of the program’s planned second phase in 2023.
The initial period will now be extended to the end of 2025, according to the budget review presented by Finance Minister Enoch Godongwana on Wednesday.
[Bloomberg]
