Load shedding continues as Eskom seek R1.8 Billion for bonuses | Want 16% increase

Eskom made an announcement earlier on its Twitter account. Loadshedding will continue until Monday morning.

#POWERALERT 1
Date: 05 January 2020

Stage 2 loadshedding will continue until 05:00 on Monday @SABCNewsOnline @IOL @News24 @ewnupdates @eNCA @TheCitizen_News @SAgovnews @JacaNews @Moneyweb @Fin24 @CityPowerJhb @City_Ekurhuleni @CityTshwane @CityofJoburgZA @eThekwiniM @JacaNews pic.twitter.com/Vq8yCkgJ6R

— Eskom Hld SOC Ltd (@Eskom_SA) January 5, 2020

This comes after Eskom requested taxpayer money for performance bonuses. Eskom wants taxpayers to raise R1.8bn for performance bonuses.

Eskom warns that its power grid will collapse further and that phase 4 load shedding should have been in place over the weekend if industries were already underway for the new year.

Nersa refused to allow bonuses to be financed by additional power tariffs, but Eskom is contesting that decision in court.

If Eskom’s urgent application succeeds next week, power tariffs will increase in April by about 16%.

Eskom CFO Calib Cassim argues that Nersa’s decisions were irrational.

Maseti says Eskom is trying to avoid liability for poor management and procurement with the court application and that Eskom exaggerates the “devastating effect” of the tariff decisions on its finances.