Eskom forecasts higher loss in 2018/19 - CFO

CFO Calib Cassim also said that Eskom is requesting steeper electricity tariff increases over the next three years, of 17.1% in 2019/20, 15.4% in 2020/21 and 15.5% in 2021/22.

FILE: Eskom's Megawatt Park offices in Sunninghill. Picture: EWN

JOHANNESBURG - South Africa’s struggling power firm Eskom predicts it will make a loss of R20 billion in the 2018/19 financial year, its chief financial officer said on Monday, versus an earlier forecast for a R15 billion loss.

CFO Calib Cassim also said that Eskom is requesting steeper electricity tariff increases over the next three years, of 17.1% in 2019/20, 15.4% in 2020/21 and 15.5% in 2021/22, compared with an earlier request for increases of 15.0% in each of those three years.