Eskom’s review of Nersa rulings draws direct link between debt surge and ‘inadequate tariff’

State-owned electricity utility Eskom’s court papers challenging two recent price determinations by the National Energy Regulator of South Africa (Nersa) include a detailed financial analysis showing a direct correlation between its surging debt levels and what it describes as years of “chronic under pricing”. The utility’s debt burden has increased to about R450-billion and could rise to over R600-billion by the early 2020s.