Eskom’s interim results announcement has been postponed until early next year‚ the electricity utility said on Thursday.
The postonment was‚ "in order to afford us the opportunity to review the impact of the 5.23% price increase as well as to allow the newly appointed board members sufficient time to review the financials‚" it said in a statement.
Eskom is assessing the impact of the lower than anticipated tariff increase for the 2018/19 financial year approved by the National Energy Regulator of South Africa (Nersa) last week Friday. Nersa approved an allowable revenue of R190 billion‚ resulting in an average percentage price increase of 5.23% against Eskom’s request for an average standard price increase of 19.9%.
“Eskom will release the results as soon as possible to ensure effective business continuity‚” said Acting Chief Financial Officer Calib Cassim.
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