Business Day Live 28 November 2012.
ESKOM CEO Brian Dames is calling for a “country pact” with the coal industry to limit future increases to the inflation rate, warning that without it South Africa faced even higher electricity tariff increases than the 16% it has asked for over the next five years.
The 16% application has elicited howls of protest from business — including miners — as it will add significantly to their costs and undermine South African industry’s competitiveness.
Mr Dames gave an undertaking in Parliament yesterday that if coal miners made a written commitment to provide Eskom with adequate volumes of quality coal and to limit price rises to inflation, Eskom would adjust its tariff increase application…
(Editor’s note: And there I was thinking that we are building Medupi and Kusile because coal is so cheap and plentiful…)