Eskom on Friday said it will implement a conditional 1.5% wage increase, potentially setting the stage for a showdown with unions, which had been demanding far more.
Browsing: Andre de Ruyter
A fallout between top executives at Eskom took a new turn, with the utility’s CEO accusing its now-suspended chief procurement officer of facilitating R8-billion of deals with a company suspected of fraud.
An oil blending and storage company secured deals to supply Eskom with fuel oil worth more than R15-billion at inflated prices by paying inducements, including donations to the ANC, an investigation has found.
Over the next five years, Eskom is expected to have an electricity supply shortage of 4GW. However the shortfall could increase as the economy grows, according to the power utility’s chief executive, André de Ruyter.
Eskom said it is undertaking long-overdue repairs at its facilities amid a high risk of nationwide outages, and it expects supply to improve later this year.
Struggling state utility Eskom said on Tuesday that its board of directors would investigate an allegation of racism levelled against CEO André de Ruyter.
Eskom bondholders are watching the latest round of rescue talks from a distance. Yields suggest they’re confident their money is safe, whether or not the discussions result in a sustainable solution for the utility’s debt.
Eskom is expected to complete its unbundling into three divisions by December 2022, according to national treasury.
The biggest labour group at Eskom blamed “poor leadership” for ongoing nationwide power cuts, a discordant sign as the utility embarks on a plan to become profitable again.
Eskom’s official three-month outlook for demand and generating capacity shows a high likelihood of load shedding every single week until mid-April. But there is reason for encouragement.