Fixing loss-making power utility Eskom is complex and it will take time for the government and the company to agree to a plan, according to Moody’s Investors Service.
Browsing: Eskom
Government is intent on ensuring the embattled Eskom becomes a sustainable entity and will consult with its debt holders on any reorganisation, public enterprises minister Pravin Gordhan said.
Eskom managed to keep the lights on in winter and aims to continue averting load shedding while balancing the need to increase maintenance to protect against the risk of unreliable plant performance.
Eskom’s power system “remains tight and vulnerable” going into the summer because of increased maintenance.
South Africa should quicken the process of spinning off one of Eskom’s units as a first step toward overhauling its operating structure, according to two people familiar with the options being presented to the government.
Eskom has rejected proposals by national treasury that it sell some plants to reduce its debt mountain, a lawmaker said.
South Africa’s sixth blueprint in 25 years to boost economic growth and job creation may succeed where the previous ones have failed – by being less ambitious.
Finance minister Tito Mboweni’s plan to pull the economy out of its longest downward cycle since 1945 may have put him on a collision course with cabinet colleagues, fellow ruling-party members and labour unions.
Eskom’s Medupi Unit 1 was synchronised to the grid on Tuesday evening, ahead of schedule. Unit 1 is the last unit to be synchronised to the grid at the Lephalale-based plant.
National treasury has outlined its vision to bolster economic growth and tackle a 29% unemployment rate, proposing a range of reforms including cutting red tape for businesses and easing visa rules to boost tourism.