eskom

  1. Jamie McKane

    No load-shedding expected this week

    Probability of load-shedding low for this week Eskom has announced that there is no load-shedding expected for Monday 21 October 2019, with the probability of load-shedding remaining low for the rest of the week. "Despite a constrained and vulnerable power system, no load-shedding is expected...
  2. Jamie McKane

    Load-shedding could continue for the next week - Eskom

    Load-shedding could continue for the next week - Eskom Eskom COO Jan Oberholzer has given an update on the status of load-shedding for this coming week in an interview with Radio 702. The embattled power utility announced this morning that it would implement load-shedding from 09:00 until...
  3. Jamie McKane

    Eskom explains why load-shedding is back

    Eskom explains why load-shedding is back Eskom load-shedding is back, and stage 2 has been implemented today. The power utility introduced stage 2 load-shedding from 09:00 to 23:00 today due to a shortage of capacity.
  4. Jamie McKane

    Eskom costs taxpayers R4.5 million a day thanks to bad contracts – Report

    Eskom costs taxpayers R4.5 million a day thanks to bad contracts – Report South African taxpayers will have to foot a bill of R10 billion over the next six years because Eskom failed to negotiate a standard price for the coal. This is according to a Mail & Guardian report which said Eskom has...
  5. Jamie McKane

    Five major things to look for at Eskom

    Five major things to look for at Eskom South Africa has been promising for months to fix Eskom Holdings SOC Ltd., the state power utility that’s drowning in debt, made record losses and is reliant on government bailouts to remain solvent. While little tangible progress has been evident so...
  6. Jamie McKane

    Eskom seeks big electricity price increase

    Eskom seeks big electricity price increase Eskom wants to increase electricity prices in South Africa by 16% over the next two years – much higher than what the National Energy Regulator of South Africa (Nersa) approved. In March 2019, Nersa approved Eskom tariff increases of 9.41%, 8.1%, and...
  7. Jamie McKane

    Eskom not allowed to cut power of municipality which did not pay its bills

    Eskom not allowed to cut power of municipality which did not pay its bills The Pietermaritzburg High Court has ruled that Eskom is not allowed to cut power to Newcastle despite the fact that the municipality did not pay its bills. Newcastle owes Eskom more than R200 million and has not met its...
  8. Jamie McKane

    New Eskom pricing could crush solar in South Africa

    New Eskom pricing could crush solar in South Africa Eskom is considering a new pricing structure which will have a material impact on the value proposition of solar installations. Eskom generates revenue from two sources: fixed connection charges and electricity tariffs which vary based on usage.
  9. Jamie McKane

    The privatisation of Eskom is a betrayal - Cosatu

    The privatisation of Eskom is a betrayal - Cosatu Finance minister Tito Mboweni's key economic reforms have been met with arguments from ANC alliance partners, including Cosatu and the SACP, according to a report in the City Press. One of Mboweni's proposals is the sale of coal-fired stations...
  10. Jamie McKane

    South Africa dodges downgrade despite Eskom debt

    South Africa dodges downgrade despite Eskom debt Investors may be forgiven for wondering what’s taking Moody’s Investors Service so long to downgrade South Africa to junk. Financial markets have been pricing in a downgrade for months, and the two other major rating companies have had South...
  11. Jamie McKane

    It will take a long time to fix Eskom

    It will take a long time to fix Eskom Fixing loss-making power utility Eskom Holdings SOC Ltd. is complex and it will take time for the government and the company to agree to a plan, according to Moody’s Investors Service. The energy firm, which supplies about 95% of the country’s power, has...
  12. Jamie McKane

    South Africa should be careful what it says about Eskom

    South Africa should be careful what it says about Eskom Talks around restructuring Eskom Holdings SOC Ltd.’s bonds must be approached carefully to avoid spooking the market, according to S&P Global Ratings. Public Enterprises Minister Pravin Gordhan said on Thursday the government will consult...
  13. Jamie McKane

    Why Eskom's debt is a great bet for investors

    Why Eskom's debt is a great bet for investors South Africa’s pledge not to let Eskom Holdings SOC Ltd. fail is enticing yield-starved investors to the company’s dollar debt. Bondholders from New York to Seoul say they’re happy to hold onto the power company’s securities -- and in some cases...
  14. Jamie McKane

    Eskom's new turnaround plan

    Eskom's new turnaround plan A leaked Eskom vision and strategy document, apparently prepared by the Boston Consulting Group for Eskom, has revealed the next steps of a long-awaited restructuring and turnaround plan for the embattled utility. The document was presented on 22 August 2019 to the...
  15. Jamie McKane

    Eskom is getting killed - expert

    Eskom is getting killed - expert High electricity prices are dampening economic growth and reward incompetence and irrationality at Eskom, energy adviser Mike Rossouw warned. In an article in Rapport, Rossouw wrote that the government continue to allow Eskom to increase prices despite the...
  16. Jamie McKane

    Eskom death spiral of debt continues

    Eskom death spiral of debt continues Eskom "urgently" needs to borrow R10 billion to pay for a clean energy project, or face penalties on its World Bank loan, stated the City Press. The World Bank loan was used to fund the construction of Medupi and Kusile, power stations which are well over...
  17. Jamie McKane

    Former Eskom executives seeking CEO job

    Former Eskom executives seeking CEO job The chief executive role at Eskom Holdings SOC Ltd., considered the most challenging job in corporate South Africa, is attracting interest from people who know how difficult turning around the debt-ridden state utility will be. Andy Calitz, the former...
  18. Jamie McKane

    Eskom appoints Jabu Mabuza as temporary CEO

    Eskom appoints Jabu Mabuza as temporary CEO South Africa’s embattled state power utility Eskom Holdings SOC Ltd. will be temporarily led by Jabu Mabuza, its chairman, who will take over the roles of interim executive chairman and acting chief executive officer starting from next month. The...
  19. Jamie McKane

    Eskom set to post record loss

    Eskom set to post record loss Eskom Holdings SOC Ltd., which supplies about 95% of South Africa’s power and is reliant on government bailouts to remain solvent, is set to announce its second consecutive multi-billion rand annual loss on Tuesday. The big question is: How many billions? The...
  20. Jamie McKane

    Government employees face salary cuts to help fund Eskom

    Government employees face salary cuts to help fund Eskom National Treasury director director-general Dondo Mogajane has said that the best way to fund the bailout of failing state-owned enterprises could be to cut the salaries of all government employees by 10%, according to a report in the...
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