21 days and Eskom's broke

don't worry.. we will foot the bill.


We (SA) is screwed...
 
Didn't they say at one of their PR's late last year that all the diesel expenses are within budget?
 
Massive electricity price increase incoming.
 
Damn hot here today. When I get home, all 4 aircons in my house get switched on.
 
Despite that, a solution for a cashless Eskom would have to come from the treasury, he said. “It has the capacity to provide an emergency bridging loan to them, or provide additional guarantees or stronger guarantees to issue more debt this month or next month to raise more cash.”
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The country rating is as much at risk, with ratings agencies citing government debt and electricity outages as key concerns.

Asked how it will pay for February’s diesel, Eskom said: “In the event Eskom gets certainty on how the diesel costs will be recovered, Eskom can responsibly bridge the delayed cash flow with funding.”

Eskom said it was managing its liquidity situation to ensure it does not result in a crisis and noted the problem was also owed to lower sales, building new capacity and the lack of cost-reflective tariffs.
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So they will get money, most probably from government, as they have a junk credit rating.
But, they have no plan on how to pay back these "loans".
 
According to those privy to the growing crisis at Eskom, the power utility has been running on about 5% reserves since 2010 and that is the underlying reason why power plants could not be shut down for proper maintenance, which requires about six weeks. This could only happen if the country had sufficient electricity reserves.

“If you don’t take a car in for a full service in 10 years, small problems become big problems,” one source said.

“Keeping the lights on for the bloody elections [2009] and for the World Cup was all they cared for. It is bad; if one thing goes wrong, you will see a blackout.”
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Ok, so no real maintenance done since at least 2010, and probably before then. Seems that those fruits are ripe for the picking.
 
The chickens from the " NKANDLA " roost have finally come home.
Catch a wake up you ID10T .
 
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