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Thread: Eskom applies for R66bn revenue claw-back

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    Post Eskom applies for R66bn revenue claw-back

    Eskom applies for R66bn revenue claw-back


    Eskom on Monday made representations to the National Energy Regulator of SA (Nersa) in its application to get back R66.6-billion in revenue for the past three financial years.

    Eskom applied to Nersa for a regulatory clearing account (RCA) to recover the money it had spent above the multi-year price determination estimates made by Nersa.

    The RCA mechanism is a balancing mechanism between what was awarded by Nersa on the basis of a forecast and what actually materialised. The under or over-recovery is then catered for through electricity tariffs in subsequent years.

    Nersa began its public hearings into Eskom’s application in terms of the RCA balance for 2014/2015‚ 2015/2016 and the 2016/2017 period of the third multi-year price determination‚ totalling R66.6-billion.

    The hearings will take place across the country until May 11 2018. The power utility said lower electricity sales contributed R44bn of the three regulatory clearing accounts submitted.

    Eskom also said the three RCAs were not a response to a price increase of 5.23% awarded to Eskom by Nersa for the 2018/2019 financial year.

    Eskom’s acting chief financial officer Calib Cassim said the RCAs under review aimed to recover efficient and prudent costs incurred from previous financial years.
    Last edited by TysonRoux; 13-06-2010 at 07:00 PM.

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    This is ****ed up beyond measure.

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    Until they honestly show us their operational efficiencies shortcomings they need to be told to take a hike
    X

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    https://www.fin24.com/Economy/Eskom/...riffs-20180614

    The National Energy Regulator (Nersa) has approved R32.69bn for Eskom's multi-year price determination Regulatory Clearing Account (RCA) applications – funds Eskom must recover due to an electricity shortfall or an escalation in operating costs.

    These funds may be recovered through tariff hikes. How this would affect consumers will only be announced in September.

    Eskom had applied for a total RCA balance of R66.6bn from the energy regulator. The R32.69bn ultimately approved by Nersa would cover the 2014/15 – 2016/17 financial years and would be recovered from standard tariff customers, Nersa said.

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    Default ESKOM IMPLEMENTS STAGE 1 LOAD SHEDDING DUE TO 'SEVERE CONSTRAINTS'

    And here we have Eksdom's response/retaliation.

    ESKOM IMPLEMENTS STAGE 1 LOAD SHEDDING DUE TO 'SEVERE CONSTRAINTS'
    Last edited by TysonRoux; 13-06-2010 at 07:00 PM.

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    Quote Originally Posted by TysonRoux View Post
    And here we have Eksdom's response/retaliation.

    ESKOM IMPLEMENTS STAGE 1 LOAD SHEDDING DUE TO 'SEVERE CONSTRAINTS'
    Coincidence, the pay strikes are a different topic: https://mybroadband.co.za/vb/showthr...edding-is-back

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    Austerity, where are those pictures of the 5 star meals at state expense enjoyed by the good folks that are 8 or so years late on projects?

    https://mybroadband.co.za/news/energ...load-shed.html

    https://www.fin24.com/Economy/Eskom-...rkers-20141221

    from 2014,
    Eskom’s R1.4 billion lunch bill

    Although the Medupi and Kusile power stations are years behind their scheduled completion dates, workers building the new coal-fired stations are enjoying free meals to the tune of R1.4 billion. This is according to a report in the Sunday Times.

    The report states that Eskom awarded two five-year catering contracts – which rank among the biggest in South Africa – to provide workers with hot meals and fresh fruit juice.

    “Free meals served in huge dining areas on site include beef, chicken, mutton or vegetarian dishes; pap, rice, samp and beans; vegetables; fruit; fullcream milk; and fruit juice,” states the Sunday Times.

    Executives are also catered for, and are provided with “special catering arrangements”, with the provision of hot meals for general workers a condition of service following protests over the serving of cold meals.

    The two contracts are worth R787 million and R639 million – awarded to Lephalale Site Services and RoyalMnandi Duduza respectively. RoyalMnandi, according to the Sunday Times, is part of the Bidvest group, of which ANC secretary-general Gwede Mantashe’s wife, Nolwandle Mantashe, is a director.

    According to the report, a new catering contract is expected to be implemented in 2015, which will push the total bill to over R2bn. This is despite both power stations being years behind schedule and over budget.

    The Sunday Times stated that Eskom initially set the cost of building Medupi at R69 billion and Kusile at R80 billion. The projected costs have risen to an estimated R154 billion and R172 billion respectively

    The wide array of meals on offer are not enough for some workers, however, and the newspaper quoted Numsa’s head of collective bargaining Steven Nhlapo as saying that the union wanted workers to have more choice at meal time. Everyone was having to eat chicken on one day and beef on another, and variety was needed, he said.

    Eskom has come under fire from political parties and local citizens of late for the “energy crisis” the country was facing, with load shedding expected to be implemented across South Africa for the next 12 – 18 months.

    The power utility has promised to try and keep the lights on over the festive season, though, with no blackouts expected during the holiday period.
    https://mybroadband.co.za/news/energ...unch-bill.html


    Last time I worked for a company that had a canteen was in the 90's, and you paid, although subsidised.
    That ended a long time ago.

    Time to bring your own sammies okes, like the rest of us.
    Last edited by Sneeky; 16-06-2018 at 01:53 AM.
    "How do you keep an ANC official sober?
    You ask them to run a piss-up in a brewery."
    Bruce Gorton, TheTimes

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    Quote Originally Posted by Sneeky View Post
    Austerity, where are those pictures of the 5 star meals at state expense enjoyed by the good folks that are 8 or so years late on projects?

    https://mybroadband.co.za/news/energ...load-shed.html

    https://www.fin24.com/Economy/Eskom-...rkers-20141221

    from 2014,
    Eskom’s R1.4 billion lunch bill


    https://mybroadband.co.za/news/energ...unch-bill.html


    Last time I worked for a company that had a canteen was in the 90's, and you paid, although subsidised.
    That ended a long time ago.

    Time to bring your own sammies okes, like the rest of us.
    My company has one for free. My previous company had one at a super reduced rate, my SO’s company has one at a super reduced rate, my best friend company has one for free.

    Not really that uncommon...

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    Oh well the late for me to move out of the chemical industry I suppose.
    They ration coffee and tea where I have been for years
    "How do you keep an ANC official sober?
    You ask them to run a piss-up in a brewery."
    Bruce Gorton, TheTimes

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    You need to be super fikkin useless to bankrupt a monopoly

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    Quote Originally Posted by FatBoySlim View Post
    You need to be super fikkin useless to bankrupt a monopoly
    useless = ANC
    Sign up to the below and enjoy much less marketing calls:
    https://www.nationaloptout.org

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