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Johannesburg - Eskom needs an alternative funding model to find R130bn for its planned capital projects, Beeld newspaper reported on Wednesday.
Sake24 said it had documents in its possession which showed the electricity utility needed to find R130bn over the next three years for its capital spending.
Its spokesperson, Fanie Zulu, confirmed this.
"Eskom needs to spend R274bn over the next three years. Out of this, R141bn is already guaranteed in the form of a government loan of R50bn and debt of R91bn, which is based on government guarantees," said Zulu.
He said Eskom's funding model needed to be "changed fundamentally" since it did not allow Eskom to collect money for its capital expenses through tariffs.
Electricity tariffs are mainly used to fund running costs.
"The model has existed for years, but Eskom's operations have changed fundamentally in the last two years... the high costs of capital projects are placing the current financing model under huge pressure," said Zulu.
- Sapa