South Africa Court Rejected a $3.2 Billion Eskom Tariff Deal, MNY Says
An Eskom Holdings SOC Ltd. power plant in Mpumalanga, South Africa.
Photographer: Waldo Swiegers/BloombergA South African court rejected a 54 billion-rand ($3.2 billion) settlement between the nation’s energy regulator and electricity provider over a tariff-calculation mistake that would have seen power prices raised by more than previously permitted, Moneyweb reported.
The High Court in Pretoria handed down the ruling on Sunday, the Johannesburg-based website reported, citing court documents. Judge Jan Swanepoel said the parties didn’t provide an explanation on how they arrived at the figure, and that the “compromise was little more than a thumb-suck,” News24 reported separately.