Wednesday, November 11, 2009

1 million people, including dependents, would lose their jobs if Eskom hike is approved

SHOOT: Quite a sizable chunk of the population.
clipped from

Up to 1 million people, including workers in the sector and dependents, would likely suffer if if a proposal was implemented by Eskom to hike tariffs by 45% a year over the next three years, he said.

"As a consequence I do not believe the Eskom 45-45-45 proposal will fly," Cutifani said.

"Certainly the indications we've had from within government is that they understand the problem."

Power rates would likely double over three years instead of triple as under the Eskom proposals, he added.

He said a doubling of rates would lead to a 10% hike in cash costs for AngloGold - the world's third biggest gold producer and Africa's largest.

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