Eskom, South Africa’s biggest polluter, said emissions of particulate matter that cause chronic respiratory disease are at their highest level in two decades.
Browsing: Eskom
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?
Foreigners are ditching South African assets at the fastest pace on record as concern mounts that the government will lose its last investment-grade rating.
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.
The problems of South Africa’s state-owned enterprises are in the headlines every day. Yet many have existed for over 80 years.
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.
South Africa’s decision to more than double its financial support for Eskom is “credit negative” for the sovereign rating as it’s an additional drain on the budget, Moody’s Investors Service said.
A financial crisis confronting South Africa’s state power utility has become a national debt problem.