PRETORIA Feb 24 South Africa's power regulator
on Wednesday granted state-owned utility Eskom a 24.8 percent
tariff increase for the 2010-11 financial year, falling short of
the power firm's request of a 35 percent hike.
For the following two financial years, Eskom was granted
increases of 25.8 percent and 25.9 percent respectively.
State-owned Eskom [ESCJ.UL] applied for the tariff increase
to help foot a 385 billion rand ($50.08 billion) bill to build
new power plants in the world's top platinum producer and a
major producer of gold.
Eskom, which provides 95 percent of the country's power, has
been battling an electricity shortage since January 2008, due to
a lack of investment in new capacity and an ageing fleet of
(Reporting by Agnieszka Flak; Editing by James Macharia)