Eskom postpones projects as tariffs rise

27 Aug, 2009

State electricity provider Eskom has said it is to postpone seven billion rand worth of new power projects this year due to a funding shortfall. The deferral comes as the utility reported a full-year loss of R9.7 billion for the 2008/2009 financial year against R168 million in 2007/2008, due to a combination of higher coal maintenance and labour costs. However, Eskom chief executive Jacob Magoga told the