The Portfolio Committee of Public Enterprises heard at the hearing of the Department of Public Entities that Eskom was “technically bankrupt”.
Eskom will no longer exist at the current projection by April 2019.
The power supply’s R420bn debt burden currently accounts for 15% of the country’s debt and its revenue has increased fourfold since 2007 but its expenses, especially with staff overload, have exceeded revenue. Staff alone increased from 32,000 to 48,000 in eleven years.
Despite the increase in staff, critical knowledge was lacking, which resulted in 40% of interruptions at the different power stations being attributed to “human factors”.
The original article can be read in Afrikaans on Die Vryburger
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