June 14, 2018 / 12:45 PM / 9 months ago

South African regulator says Eskom can recover $2.5 billion through higher tariffs

PRETORIA, June 14 (Reuters) - South African energy regulator NERSA on Thursday gave power utility Eskom the go-head to recover 32.69 billion rand ($2.5 billion) of costs incurred over the past three years through higher tariffs, about half what the utility had requested.

Cash-strapped Eskom, which is battling to emerge from governance and financial difficulties, had applied for 66.6 billion rand to compensate for costs that were not factored in previous tariff increases granted by the regulator.

The regulator said it would announce at a later date when Eskom can raise tariffs to recover the costs. Eskom had said it would seek to recover the costs over a period of three years. ($1= 13.1365 rand) (Reporting by Alexander Winning Writing by Tiisetso Motsoeneng Editing by James Macharia)

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