Gigaba backs lower tariff hike, says Eskom a drain on fiscus

Finance Minister Malusi Gigaba said on Saturday that he supports the National Energy Regulator of South Africa (Nersa’s) decision not to grant the nearly 20% tariff increase Eskom had applied for as the current state of the economy wouldn’t have been able to support this. Nersa on Friday, granted the power utility a 5.2% price hike for 2018/2019.