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Hostage drama continues – Eskom holds ANC regime prisoner, parasitic parastatal seeks further R59 billion to squander

Posted on August 30, 2019 Leave a comment

The hostage drama in which Eskom has captured the ANC regime has now reached its highest point of arrogance.

With a new demand to get R59bn intended for the next two years for mismanagement, all reasonable limits have completely surpassed, say economic experts and informed businessmen.

Eskom’s debt burden is already so high that there is almost no possibility that the struggling power provider will ever be able to recover it.

With the decline in electricity demand, South Africa is on the verge of a total economic collapse, and the worst can be expected in the coming weeks.

Finance Minister Tito Mboweni’s suggestions that Eskom should pay its workers less and have less unions on their feet, ready to make the country even more unmanageable.

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State Treasury plundering continues – your tax money will fund Eskom with a further R59bn

Posted on July 23, 2019 Leave a comment

Eskom will receive a further R59bn bailout over two years from the government to keep the bankrupt power provider standing.

This follows the R69 billion already approved for a three-year period. Eskom’s debt currently amounts to R440bn and is considered the biggest risk to the South African economy.

How much money is still to be deposited in the entity is not known, but economic experts agree that Eskom will never get rid of the debt itself.

-Vryburger / 2019-07-23
This report does not necessarily reflects the opinion of SA-news.

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Soweto’s huge debt burden amounts to more than R17 billion, where illegal power connections are more the rule than the exception in residential areas

Posted on July 17, 2019 Leave a comment

Soweto has been identified as the great sinner when it comes to outstanding debt to Eskom. The latest figures show that Soweto’s debt to the power provider is over R17bn.

Last week, technicians threatened that they would no longer perform repairs in neighborhoods where their security is threatened, areas effected including Soweto.

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Bankrupt Eskom’s CEO resigns due to stress- For the sake of the whole of South Africa who will risk taking over?

Posted on June 7, 2019 Leave a comment

Eskom is looking for a new CEO after the current incumbent Phakamani Hadebe resigned after less than a year due to stress. His predecessors either left their jobs due to personal reasons, were dismissed or went away under a cloud of corruption.

Energy expert Ted Blom believes that Hadebe’s resignation did not come as a surprise because he came in as an outsider and although with good management experience, he had little knowledge of the power supply industry. Therefore, he was not readily accepted by the Eskom establishment.

Hadebe was appointed in 2018 to convalesce the struggling state entity after his success in improving the situation at the Land Bank. However, Eskom is a very difficult horse to stride, because the power provider is currently not selling enough electricity to cover its interest payments and huge running costs. This stems directly from a legacy of years of mismanagement and overall costs on new plants, which resulted in a curr
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This is totally unbelievable!– Units at all twelve of Eskom’s oldest power stations have ceased functioning – Can it get any worse?

Posted on December 12, 2018 Leave a comment

Units at all twelve of Eskom’s oldest power stations have ceased functioning, which means that more than 17,000 MW’s are loss. It is even more than 15,000 MW in 2015 when load shedding was introduced and lasted for months.

Medupi and Kusile design problems alone will cost R345 billion to restore, and Eskom does not have the ability to pay it.

Eskom has, in the meanwhile, calculated that the problems will only be sorted out by 2021, but experts believe that the power provider’s bad financial position is going to slow down the poor and irregular power supply even more.

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

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