‘Lower savings, tariff increases.’ PRETORIA – Eskom increased its planned borrowings in 2016/17 dramatically by R21.7 billion to R68.5 billion, not because it accelerated its new build programme, but due to lower net savings than earlier anticipated and lower than expected tariffs during the current tariff period that ends on March 31, 2018. This was disclosed in the 2016 Budget Review issued with Finance Minister Pravin Gordhan’s 2017 Budget Speech on Wednesday. By December last year Eskom had utilised R187 billion of its R350 billion government guarantee. Government has extended the guarantee, due to expire in March this year, for ...READ ARTICLE >>

New Finance Minister Malusi Gigaba insist that government's controversial nuclear-build programme will continue as planned, but that it will not be implemented recklessly. Critics of the programme, who say it has already been corrupted after the 2014 announcement that Russian nuclear agency Rosatom had already secured the rights to build new South African nuclear plants. The government has since said the announcement was wrong and that nuclear was still in feasibility study stage. The issues has been contentious as many corners argue that South Africa, whose geographical location makes it the perfect place to implement other alternative energies such ...READ ARTICLE >>