The Eskom wheeling tariff change corporate buyers are not ready for
A technical adjustment to loss factors, and a very large bill.
The tariff determination lands in October, and every corporate buyer with a wheeling agreement is about to find out whether their numbers still work.
What changed
NERSA has signalled a shift in how transmission losses are apportioned. On paper it is a technical adjustment. In practice it moves cost from the utility onto the buyer.
Who is exposed
Anyone who signed a wheeling deal on the old loss factor, which is most of the market.
If the loss factor moves two percentage points, a ten year offtake stops clearing its hurdle rate. That is the whole conversation.
Naledi Pillay, Grid Access Forum
Contracts signed this year carry a reopener clause. Older ones mostly do not.
What to do before October
Read your loss-factor clause. If there is no reopener, start the conversation with your counterparty now rather than in the week the determination drops.
Alison Kruger
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