Nearly R12bn revenue lost to lower electricity demand, says Eskom

The power giant says it suffered an R11.7 billion loss in the last financial year.

CAPE TOWN - Eskom says an almost R12 billion loss in revenue was mainly due to a lower demand for electricity.

The power giant says it suffered an R11,7 billion loss in the last financial year.

It is seeking to recoup this money plus an additional R11,1-billion.

Public hearings by the National Energy Regulator of South Africa (Nersa) into Eskom's application started in Cape Town today.

Eskom's Khulu Phasiwe says the economic downturn is largely to blame for the power utility losing billions in revenue.

"The economy has not been doing well and as a result, many of the big manufacturers and the mining sector have not been using as much electricity as they used to before."

Apart from the R11,7 billion, Eskom also wants to recover R8 billion for the procurement of diesel.

The power giant has been criticised for its apparent lack of cost controls at the first leg of the Nersa public hearings in Cape Town.

The hearings continue in the Mother City tomorrow before moving to Port Elizabeth and Durban later this week.