JOHANNESBURG - The lights won’t go off in the City of Gold. The agreement comes after Eskom warned in November that it would cut off power to Johannesburg residents over a disputed R4.9 billion debt.
City Power and Eskom have reached a settlement over the City of Johannesburg's exorbitant electricity debt.
WATCH | City Power, Eskom reach R3.2bn settlement to stop Joburg blackouts threat
The City will settle R3.2 billion rand over the next four years.
Eskom has also agreed to waive interest, penalties and other charges amounting to R830 million rand.
- Energy analyst, Chris Yelland, from EE Business Intelligence spoke to eNCA.