Eskom Slashes Electricity Tariffs to Save Jobs

Eskom announced a 29% reduction in electricity prices for two ferrochrome firms, aiming to prevent job losses. The adjusted tariff will see Samancor Chrome and Glencore's venture with Merafe Resources pay 62 cents per kilowatt-hour, down from 87.74 cents previously approved by South Africa's energy regulator.

Eskom, South Africa's power utility, on Friday revealed another 29% cut in electricity prices for two struggling ferrochrome companies. The move aims to prevent significant job losses in the sector.

Under the revised tariff scheme, Samancor Chrome and the joint venture between Glencore and Merafe Resources will pay 62 cents per kilowatt-hour for electricity. This is a significant decrease from the interim tariff of 87.74 cents per kilowatt-hour that was sanctioned by South Africa's energy regulator earlier in January.

This decision highlights Eskom's commitment to balancing economic pressures while attempting to sustain employment within the affected industries.

(With inputs from agencies.)