In its latest application to the energy regulator, the power utility is claiming this as an underrecovery for 2018/19, meaning tariffs may rise by 16.6% next year Eskom, which last week again saw a collapse of its power network that led to nationwide load shedding, wants consumers to cough up a further R27 billion for..
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Cash strapped Eskom wants another R27bn from consumers – Could this be the reason why SA is experiencing #Rollingblackouts? To manipulate us into giving them what they want?
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Eskom warns – Be prepared for ‘load shedding at short notice’
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The struggling utility has been forced to go the expensive route of using water and diesel due to the breakdown of some units. The “unexpected loss” of some of Eskom’s generation units over the weekend has left the electricity system “severely constrained”, the struggling energy utility said in a statement. While the statement said load..
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Eskom – in return for R59bn bailout from National Treasury, Eskom must recover Soweto, municipal debt
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National Treasury is set to impose 28 conditions on Eskom in return for a R59bn lifeline to keep the cash-strapped power utility afloat and enable it to pay interest on its mounting debt burden. Treasury updated Parliament’s appropriations oversight committee on the conditions attached to an appropriations bill on Wednesday. The bill, which has not..
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Eskom drowning in debt, will need R69 billion to service its overflowing liabilities
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Eskom chairman Jabu Mabuza during the power utility’s annual financial results presentation on November 28, 2018 in Johannesburg, South Africa. During the presentation, it was revealed that Eskom’s debt service costs have doubled in a one year to R45bn. Jabu Mabuza addressed the Portfolio Committee on Public Enterprises on Wednesday and announced Eskom is owed..
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Bankrupt Eskom pleads for another government bailout as debt climbs beyond R450bn
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The power utility’s debt is reaching levels beyond R450 billion and Mabuza was in Parliament on Tuesday asking government for more money. Eskom CEO and board chairperson Jabu Mabuza said the power utility’s debt levels have reached the ceiling. Eskom’s debt is reaching levels beyond R450 billion and Mabuza was in Parliament on Tuesday asking..
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#Blackprivilege: ANC wants Eskom to come to the aid of residents who, for long periods, have been struggling without electricity, because they refused to buy it. This is discrimination and totally unfair!
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The ANC Caucus in Johannesburg has called on Eskom to lace up its bootstraps and reconnect the power supply to communities like Soweto, Ivory Park and Diepsloot. The call from the party came in the form of a march to the power utility’s headquarters at Megawatt Park in Sandton. The ANC Caucus handed over a..
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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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Eskom in deep trouble as China withholds crucial R7-billion loan – partial loan to be paid out by China to bankrupt Eskom never occurred due to fears that bankrupt state entity would use money to pay salaries
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China is withholding a R7-billion payment meant to help Eskom combat its current financial issues due to fears that the power utility will not complete its power station construction projects. According to a report in the City Press, the Chinese Development Bank (CDB) has become wary of Eskom’s promises and is concerned that it will..
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Eskom – You can’t sue us, it’s our right to load shed
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The power utility has brushed off a planned class action for damages caused during load shedding – a legal case an expert says won’t succeed. The planned class-action lawsuit against Eskom’s load shedding may garner popular support, but it may not be successful, considering the technicalities – and Eskom says they can’t be forced to..
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Eskom crisis as not just a crisis but a potential disaster – Eskom Price Hike To Cost SA 90,000 Mining Jobs – Unemployment rates to rise, all thanks to Eskom!
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Labor unions have threatened strikes over the job cuts at mining firms as well planned reductions at a numerous state-owned companies. JOHANNESBURG – South Africa’s gold and platinum mines will shed around 90,000 jobs in the next three years as above-inflation electricity price increases by power utility Eskom add to already soaring operating costs, an..
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During the ANC regime, roughly R500 billion has been looted by Eskom contractors, which partly explains why South Africa is in such a big financial mess – it is unsure if the culprits will be brought to justice
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A Special Investigation Unit is currently investigation more than eleven contractors whom are suspected of robbing the power utility of billions of rand. The contractors looted R130 billion from Eskom during the construction of the two new power stations, Medupi and Kusile as well as the Ingula power station. From the so-called “inner circles” it..
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Rolling Blackouts on the cards as AMCU threaten secondary strike , AMCU represents about half of coal mine workers in SA
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The tussle between Sibanye-Stillwater and the Association of Mineworkers and Construction Union (AMCU) has reached new heights. The trade union, whose membership also includes coal mine workers, has teased a secondary strike and this could affect load shedding too. Why is AMCU set to embark on a secondary strike? AMCU president, Joseph Mathunjwa, made it..
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South Africans should brace for more rolling blackouts as the power grid is unstable and cannot produce enough power to sustain the country
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Eskom warned of wider controlled power cuts on Monday after six additional generating units unexpectedly went offline. The power utility launched stage 4 load shedding, which requires the shedding of 4 000 megawatts from the grid. The Cape Chamber of Commerce and Industry is shocked by the sudden dramatic increase in load shedding. “How is..
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This is outrageous, Eskom says it is entitled to an electricity tariff increase of 90%
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Eskom maintains that it is entitled to a 90% increase, but, in order to spare the average South African consumer, it will settle for less.
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Eskom nearing collapse, senior officials jump ship
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Eskom, South Africa’s national power utility, may be unable to avoid a complete restructuring process in order to avert total collapse. This has been confirmed by the National Energy Regulator of South Africa (NERSA), high-level executives within the company and energy experts. According to a report by Moneyweb, Eskom only narrowly avoided load-shedding this week,..
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