Erasibo

For some reason the chaps at ESKOM and NERSA have forgotten that ESKOM is owned by the citizens of South Africa. What that means is that they are accountable to us.

Well actually that’s not true, especially if one looks at ESKOMS recent misdeeds behaviour. ESKOM does what it wants, when it wants. ESKOM executives choose to focus more on bonuses and just in time coal stock piles and less on the countries well being.

Now ESKOM (with the collusion of NERSA) are hiding what is referred to as “commercially sensitive” details of ESKOMS application for a 53% tariff increase from the public. ESKOM is a public company nothing about its financials should be hidden from its owners.

I would encourage South Africans to fax their complaints to NERSA on (012) 401-4700.

Goolam Ballim, Chief Economist at Standard Bank succintly states the problem we will be faced with should ESKOM’s massive hike be allowed:

There’s going to be multiple effects. Firstly, it is going to raise the general level of inflation in the country, because clearly electricity is a core input into production, not just into consumption in terms of residential living. So it will raise the cost of living and within the broad basket of staple items.