During his speech before the SONA the ANC president, Cyril Ramaphosa, said Eskom could not go down and that the state would see to it that there is enough funds available to keep the entity going. According to experts, its R230bn is not enough to save the failed power supplier. Chris Yelland, a well-known energy..
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Experts say R230bn is not nearly enough to save sinking Eskom and believe leadership leadership and instability is the biggest problem at state entities
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You, the taxpayer are going to pay for Eskom’s failures and probably Soweto’s debt too – Tax increase on the cards
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President Cyril Ramaphosa said in his recent state of the nation address that Eskom is facing serious financial, operational, and structural problems. While Eskom has sufficient cash to meet its obligations until the end of October 2019, its financial position remains a matter of grave concern. “For Eskom to default on its loans will cause..
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#Blackprivilege! SOWETO RESIDENTS’ ELECTRICITY BILL SURPASSES R18 BILLION – So cut their damn electricity! Why must the white minority subsidise their bills?
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In just six months, Soweto residents’ debt increased by more than a R1 billion, pushing the bill to R18 billion. Eskom said Soweto residents now owe the utility more than R18 billion in unpaid electricity bills. The cash-strapped parastatal has told Eyewitness News the township’s debt increased by R3 billion over a period of just..
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PAY BACK THE MONEY: Gupta-Linked Trillian ordered to pay Eskom R600m as a result of an invalid deal involving corruption and fraud
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JOHANNESBURG – Gupta-linked global consultancy firm Trillian capital has been ordered to pay Eskom R600 million. In March last year, the power utility sued both Trillian and McKinsey for the repayment of almost R1.6 billion allegedly unlawfully paid to them as a result of an invalid deal involving corruption and fraud. McKinsey has since paid..
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A study show that air pollution by Eskom and Sasol is killing South Africans
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A new study on air pollution by Eskom, Sasol Synfuels, and Natref provided shocking evidence of the harmful effects caused by these organizations to the environment and to human health. The study was conducted by Dr. H. Andrew Gray of Gray Sky Solutions, an air pollution research consulting firm specializing in particulate matter (PM) and..
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Dear Taxpayer, brace yourself for some more SHOCKING news:- Eskom: Yet another taxpayer-funded bailout looms amid court action
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Dig deep, Mzansi. Eskom wants your tax money again. Rumors of a fresh bailout have been sparked after a Treasury official said it’s a case of “when, not if”. Power giants Eskom have suffered a double-blow this weekend after it emerged that they would need bailouts on top of bailouts to really get itself up..
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Kusile under financial crossfire – R36 billion owed for alleged arrears for semi-completed power station with design flaws
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Kusile, as one of the two new Eskom mega power stations that is supposed to deliver to supply sustained electrical power for the country, is apparently caught up in financial crossfire. In addition to the enormous escalation of construction costs due to mismanagement and corruption, contractors at the semi-completed power station claims amid design defects..
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Bankrupt Eskom’s CEO resigns due to stress- For the sake of the whole of South Africa who will risk taking over?
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Eskom is looking for a new CEO after the current incumbent Phakamani Hadebe resigned after less than a year due to stress. His predecessors either left their jobs due to personal reasons, were dismissed or went away under a cloud of corruption. Energy expert Ted Blom believes that Hadebe’s resignation did not come as a..
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11 PIC Councilors offered to resign amid continuing scandals and suspension of senior staff
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The Public Servants Association or as it is now known Public Servants Association (PSA) represents about 240,000 members countrywide and has just indicated that they will instruct the Public Investment Corporation (PIC) that no further investments in Eskom should be made. By purchasing Eskom bonds, pensioners are exposed to extremely high risk as Eskom is..
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Eskom’s CEO, fleeing the coop – Phakamani Hadebe resigns saying ‘unimaginable demands’ of job put strain on his health
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A statement issued by the power utility on Friday said that Hadebe would serve notice until the end of July. He cited health reasons for his resignation. “It is no secret that this role comes with unimaginable demands which have unfortunately had a negative impact on my health. In the best interests of Eskom and..
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Eskom remains a failure – ANC regime admits that the power provider does not have the capacity to meet the needs of larger industries
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The ANC’s Energy Minister, Jeff Radebe, acknowledged that the national power provider does not have the capacity to meet the needs of larger industries. The developers and investors first want to know if sustainable electric power can be provided, but Radebe first waited for the election to be over before he could admit the truth…
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Eskom shocked by new R36 billion bill from infamous Kusile unit – Well, isn’t this the last thing that utility and the South African taxpayer needed?
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With Eskom set to receive a R70 billion government bailout over the next few years, they could lose more than half of that amount before they even get going. Another set of spiralling costs have floored the utility, who have been billed R36 billion by contractors working on the Kusile Power Plant. The report –..
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ANC’s energy loophole – private institutions are going to be forced to supply Eskom with their own electricity
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Shortly after several industrialists and mining houses announced that they wanted to become self-sufficient with the availability of electricity, the ANC’s Energy Minister immediately took the gap to help Eskom. Minister Jeff Radebe has apparently “paved the way” for private institutions to generate power to be included in the Eskom network, but such institutions must..
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City of Joburg, big companies say no to Eskom and go off the grid – Anglo Platinum, Sibanye-Stillwater, Makro and the City of Johannesburg are all loosening their ties to Eskom
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Forward-thinking businesses in SA are now starting to confront life without Eskom by putting plans in place to generate their own energy. Anglo Platinum and Sibanye-Stillwater are two high profile companies at an advanced stage of planning for solar plants to generate their own electricity. The City of Joburg wants to cement a deal with..
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Eskom Corruption being ‘rewarded’ with 15.63% tariff increase – SA consumers now have to suffer but those responsible for the corruption and maladministration “continue to roam free” without any consequences for the actions
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Municipalities across SA will now face a 15.63% tariff increase from Eskom, approved by Nersa. Mayor Herman Mashaba on Tuesday issued a statement in which he claims the National Energy Regulator of South Africa (Nersa) has rewarded corruption at Eskom with a 15.63% increase in tariffs. “The City has noted the disappointing correspondence from Nersa,..
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