South Africa should not shy away from spending to fix the country’s power crisis, electricity minister Kgosientsho Ramokgopa said.
Browsing: Eskom
Government has withdrawn an exemption granted to Eskom from reporting irregular spending in its annual financial statements.
Both trade Solidarity and Outa said on Wednesday that they had forced the premature end of the energy state of disaster.
Civil society groups warned the move raises concerns about rampant corruption at the state-owned power utility.
South Africa will exempt Eskom from having to report irregular spending to avoid harming the company’s credit rating.
The South African Revenue Service said ongoing power cuts have had a “debilitating” effect on the economy and revenue collection.
South Africa has told rich countries backing its $8.5-billion energy transition deal that it wants to delay the closure of some units at its coal-fired power plants.
The Eskom Pension and Provident Fund plans to expand into venture capital to reduce its dependence on traditional investments.
Eskom is considering buying electricity from a Karpowership plant to be located offshore from Mozambique.
Cabinet has approved a bill on electricity regulation designed to clear the path for private generation projects and power trading.