South Africa: Eskom improved offer translates to R38m

source: Fin24
Jul 06 2010

Johannesburg – South African power utility Eskom on Tuesday confirmed that the cost of increasing its wage offer by 0.5% is an effective R38m.

Eskom at the weekend revised its pay offer to a nine percent wage increase and a R1 500 housing allowance, thereby averting threatened strike action.

The utility previously offered an 8.5% wage increase and a R1 000 housing allowance while the unions demanded a nine percent wage increase and a R2 500 housing allowance.

Eskom head of resources Bhabhalazi Bulunga told I-Net Bridge that the shift in the offer translates into R488m over and above the National Energy Regulator of South Africa’s (Nersa) allowance of a 5.6% wage increase.

At 8.5% the offer was R450m above the [continue reading]

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