Finally, Tshwane's smart metre saga settled
A settlement agreement between the City of Tshwane and its controversial smart metering supplier Peu Capital Partners was made an order of the High Court yesterday, says a Moneyweb report. In terms of the order, the city may now remove the meters supplied by PEU and install new meters for the almost 13 000 Tshwane customers, mostly large power users, who have been supplied with electricity through the PEU system.
It also means, according to Moneyweb, that the city can put a stop to haemorrhaging funds that started late in 2013 when the smart metering contract was first implemented.
It says Tshwane member of the mayoral committee for corporate services, Cilliers Brink, confirmed yesterday that these payments amounted to almost R5m a day. In total the city has paid R3.1bn to PEU so far.
It was alleged in court papers that PEU operated at a 63% profit margin.
City administration has reportedly confirmed the parties agreed not to pursue civil claims against each other.
Sakeliga spokesperson Armand Greyling, noting the organisation was satisfied with the settlement, added the matter should be a warning to other organs of state against entering into irregular procurement processes.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
