Five firms to work out R110m repayment plan

FIVE Nelson Mandela Bay high-energy users who lost their legal battle against the municipality have to come up with a proposal on how they plan to pay their electricity debt dating back to 2011.

The companies failed in their bid to have the municipality's 2011-2012 budget set aside by the Port Elizabeth High Court on the grounds the municipality's public participation process was flawed when it imposed hefty electricity tariffs.

The five companies – Borbet SA, Halberg Guss SA, Shatterprufe, Xmeco and Sovereign Foods – have not been paying their electricity bills in full since 2011.

In February, the outstanding bill for the five companies was R110-million. Chief financial officer Trevor Harper said yesterday he and the executive director of electricity and energy Silby Matthew recently met with the five companies.

"We told them they must come up with a proposal to settle their debt. - Rochelle de Kock