Eskom is facing a mounting repair bill at two new coal-fired power stations that are still under construction, compounding its already dire financial situation.
Browsing: Phakamani Hadebe
Eskom may need to reinstate rolling power cuts after factories and businesses reopen following the summer holiday period, said CEO Phakamani Hadebe.
It’s deja vu for South Africa as a chronic power deficit plunges large tracts of the country into darkness and casts a pall over the already struggling economy.
Eskom again implemented load shedding, at stage 2, on Monday.
Eskom’s warning that the country was threatened by months of rotating blackouts became a reality in less than 24 hours.
Eskom is locked into a permanent loss situation and revenue is structurally limited. Expenses have ballooned due to inefficiencies, and electricity tariffs are not cost-reflective.
State-owned power utility Eskom may be forced to implement controlled blackouts before the end of the year because of pressure on the national system, CEO Phakamani Hadebe said on Friday.
Eskom’s newly appointed group CEO Phakamani Hadebe put on a brave face when he announced that the group showed a R2.3-billion net loss and received a qualified audit opinion for the year ended 31 March 2018.
Irregular spending at Eskom has swelled to R19.6-billion as South Africa’s state-owned power utility comes under pressure to restore its credibility and improve its finances.
Former Telkom Group chief information officer Len de Villiers has joined the JSE as acting CIO with immediate effect. He has also been appointed as advisor on IT to Eskom CEO Phakamani Hadebe. De Villiers will work two