Eskom wants the majority of its R440-billion of debt transferred to the South African government.
Browsing: Energy and sustainability
Eskom urgently needs a plan to turn profitable or South Africa’s state-owned utility will collapse under mounting debt, according to credit agency Moody’s Investors Service.
Debt-stricken state power utility Eskom reported a record loss of R20.7-billion on Tuesday, highlighting the severity of the threat it poses to South Africa’s economy.
Eskom, South Africa’s biggest polluter, said emissions of particulate matter that cause chronic respiratory disease are at their highest level in two decades.
Embattled state power utility Eskom will be temporarily led by Jabu Mabuza, its chairman, who will take over the roles of interim executive chairman and acting CEO starting from next month.
The state-owned power utility is set to announce its second consecutive multibillion-rand annual loss on Tuesday. The big question is, how many billions?
Eleven years after construction started on Eskom’s massive 4.8GW Kusile coal-fired power station in Mpumalanga, not one of its six 800MW generator units is currently delivering power into the grid.
South Africa’s anti-graft ombudsman is investigating Eskom’s deals with 27 independent power producers, Independent Online reported, citing a leaked document.
Eskom is challenging the South African energy regulator in court over a tariff increase the state-owned utility says isn’t sufficient, Mining Weekly reported, citing court papers.
Finance minister Tito Mboweni says government borrowing will surge and taxes may rise to fund the troubled Eskom. Yet no plan has been announced to restructure the overstaffed company.