South Africa's Ramokgopa Expects State Intervention on Power Prices [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — South Africa's government plans to intervene to keep power prices lower after the state utility asked a regulator to allow it to raise tariffs by 36%. Electricity Minister Kgosientsho Ramokgopa said he's confident the government will take action before the National Energy Regulator of South Africa rules on Eskom Holdings SOC Ltd.'s application by the end of the year. By comparison, South Africa's annual inflation rate was 4.4% in August. “There could be a policy intervention we could make to provide some measure of relief,” he said at a Standard Bank Group Ltd. conference in Johannesburg on Wednesday. In addition to preserving the financial viability of Eskom “we don't want to undermine the ability of the economy to grow” and we don't want to push the poor deeper into poverty, he said. Eskom's tariff application for its next financial year is th
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