28 October 2009 – It was revealed earlier this week that Eskom is in discussion with the World Bank for funding of $3 billion.
According to Lesetja Kganyago, director-general of the National Treasury "alternatives” were being considered for Eskom’s funding shortfall.
During his budget speak to Parliament on Tuesday, Finance Minister, Pravin Gordhan did not mention any plans to fund the Eskom shortfall in his budget. He conceded that this would mean the shortfall would have to be funded by increases in the price of electricity.
Eskom have applied for another price hike, despite being granted an increase in April and has said that the average price increase over the next three years will average 43%.
According to minister Gordhan, treasury is concerned about the impact the price increases will have on households and business and will continue seeking ways to reduce pressure on consumers.