Posts tagged with 'power provider'

 

“I Had No Clue” – Ramaphosa Recommended Suspected Gupta Foreman Brian Molefe to President Zuma as “Mr Fixit” for Eskom!

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Cyril Ramaphosa’s contorted testimony at the Zondo Commission on Wednesday, leaves more questions than answers, leaving Deputy Chief Justice Raymond Zondo a mystery of the Brian Molefe kind. After decades in the highest circles of politics in South Africa, Ramaphosa claims that he was unaware of what was going on around him? Ramaphosa, who was then Deputy to President Jacob Zuma, admitted that he had advised Zuma to transfer “Mr Fixit” Brian Molefe from Transnet, and appoint him as Eskom’s CEO in 2015, but the Guptas already knew it was coming in 2014?

Ramaphosa claimed before the Inquiry into State Capture that he was not aware at the time of Molefe’s association with the Gupta family and their collaborators. Molefe previously acknowledged that he had close ties to the politically affiliated Gupta family, but denied that they had anything to do with his promotion to become boss of the two most strategic state-owned companies, Eskom and Transnet…

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Ramaphosa plans to pay Eskom’s R440bn debt burden off but no one knows how

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The ANC president’s plan to get Eskom out of the mess has yet to come to light and is apparently a state secret or no such plan at all.

That’s the opinion of an expert in Pretoria who set his sights on the president’s promises that never come true, he said.

The Ramaphosa plan to cut Eskom’s debt burden, which is now past the R440bn mark, and to manage the entity in such a way that it makes good profits without introducing excessive rate hikes, requires much more than a Ramaphosa plan, it is said.

The power provider’s loss for the past financial year amounted to R21 billion, which is a clear indication that the ignorance of applying good management practices is completely lacking.

The Ramaphosa plan will have to be slightly more than it has so far announced as plans, and to turn a R21bn loss for the current financial year to a favorable balance, more expertise is needed than Eskom currently has.

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Hostage drama continues – Eskom holds ANC regime prisoner, parasitic parastatal seeks further R59 billion to squander

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The hostage drama in which Eskom has captured the ANC regime has now reached its highest point of arrogance.

With a new demand to get R59bn intended for the next two years for mismanagement, all reasonable limits have completely surpassed, say economic experts and informed businessmen.

Eskom’s debt burden is already so high that there is almost no possibility that the struggling power provider will ever be able to recover it.

With the decline in electricity demand, South Africa is on the verge of a total economic collapse, and the worst can be expected in the coming weeks.

Finance Minister Tito Mboweni’s suggestions that Eskom should pay its workers less and have less unions on their feet, ready to make the country even more unmanageable.

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Soweto’s huge debt burden amounts to more than R17 billion, where illegal power connections are more the rule than the exception in residential areas

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Soweto has been identified as the great sinner when it comes to outstanding debt to Eskom. The latest figures show that Soweto’s debt to the power provider is over R17bn.

Last week, technicians threatened that they would no longer perform repairs in neighborhoods where their security is threatened, areas effected including  Soweto.

Herman Mashaba, the mayor of Johannesburg, however, pleads for residents who pays for services and will now be disadvantaged by the “small” amount of residents who do not pay.

Illegal power connections are the rule rather than the exception in the residential area, and Eskom workers dare not dare to remove the dangerous and illegal drainage wires.

Information obtained shows that where drainage wires were removed, it was replaced with a new cables the next day.

-Read the original article in Afrikaans in Vryburger / 2019-07-17
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State Treasury plundering continues – your tax money will fund Eskom with a further R59bn

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Eskom will receive a further R59bn bailout over two years from the government to keep the bankrupt power provider standing.

This follows the R69 billion already approved for a three-year period. Eskom’s debt currently amounts to R440bn and is considered the biggest risk to the South African economy.

How much money is still to be deposited in the entity is not known, but economic experts agree that Eskom will never get rid of the debt itself.

-Vryburger / 2019-07-23
This report does not necessarily reflects the opinion of SA-news.

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This is totally unbelievable!– Units at all twelve of Eskom’s oldest power stations have ceased functioning – Can it get any worse?

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Units at all twelve of Eskom’s oldest power stations have ceased functioning, which means that more than 17,000 MW’s are loss. It is even more than 15,000 MW in 2015 when load shedding was introduced and lasted for months.

Medupi and Kusile design problems alone will cost R345 billion to restore, and Eskom does not have the ability to pay it.

Eskom has, in the meanwhile, calculated that the problems will only be sorted out by 2021, but experts believe that the power provider’s bad financial position is going to slow down the poor and irregular power supply even more.

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

 

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