Eskom death spiral of debt continues

Jamie McKane

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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 budget and still not fully operational despite the construction deadline passing.
 

system32

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SOLVED
1566108768871.png
 

binarycape

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For one thing they need to start collecting all the money owed by municipalities, even if they have to take them to court for emergency hearings, or get the army in or something. What is the point of continuing to supply electricity to townshops and informal settlements if they are refusing to pay for it currently and still owe millions of rands for what they hav already received? Yeah, there will be riots, but bring the army in and let them work for their salaries for a change, and let those rioting and not paying see how much it costs to buy gas or kerosene and candles, and do without their TVs, fridges etc., They can all seemingly afford dishes for the tops of their tin shacks. I can't even afford to replace my last broken tv or buy a dish for any service and if I don't pay my elec bill Eskom will cut me off. I already only put my geyser on once a week, keep everything switched off unless in use, aside from the fridge, because I cannot afford to use electricity. My network charges and VAT are higher than the amount of electricity I am using.

All the unnecessary staff need to be reinterviewed and given alternatives of work at lower salaries, and maybe even put on short time. If the President has decreed Eskom may not retrench/let go then it strikes me that many of the staff need to go onto short time, half days or 3 and 4 day weeks at the very least.
 

Sl8er

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/snip
What is the point of continuing to supply electricity to townshops and informal settlements if they are refusing to pay for it currently and still owe millions of rands for what they hav already received?

/snip
701347
 

mister

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Eskom has not started work on the required battery project, nor does it have the money to pay for the project – and it is expected to ask for a loan of R10 billion.
Ask Makate for the loan after he gets it from Vodascum :ROFL:
 

Moto Guzzi

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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 budget and still not fully operational despite the construction deadline passing.
The unspoken side of credit:
What happens if you take out or are given credit and don't pay back: or your bussiness plan goes south, or south as planned:
1=You converted nothing on your side to cash, quick.
>As a result good money flow to various accounts, the money is not missing.

2=You leave a hole in the bank, either the bank or investors are going to miss funds.
>The important thing here is ultimate motive.
The other half:
 
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Gaz{M}

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And here I am paying R2.53/kWh to the City of Tshwane. Eskom only getting less than half of that.
 
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