Eskom might have to make R45 billion more in debt this year

[Hanno Labuschagne]

Eskom might have to make R45 billion more in debt this year

South Africa’s beleaguered power utility may need to raise R45 billion of debt this year to refinance upcoming obligations, purchase diesel and pay inflation-beating salaries to workers, according to S&P Global Ratings.

That’s an increase from S&P’s borrowing forecast of R30 billion for Eskom Holdings SOC Ltd. in November, according to Omega Collocott, director of corporate ratings for South Africa at the company.

[Bloomberg]

 

[requiem]

Good luck taxpayers

 

[Pegasus]

Go visit Cyril

 

[wingnut771]

Just increase prices.

 

[The_Mowgs]

Just tax solar, boreholes, breathing and stealing

 

[The_MAC]

Ask the Gupta's for a small donation..

 

[RedViking]

We could have helped Elon buy Twitter.

 

[Lupus]

They did say this was going to come bite them, but they want to hire 17000 more people than they need, supply food at the canteens and and.

 

[porchrat]

I wonder if the unions understand what they're doing here.

 

[RonSwanson]

Ask the Gupta's for a small donation..

Sell it to them lock, stock and barrel.

 

[grok]

Remember how well the NATS ran this baby..

Almost cheapest electricity in the world, then we gave it to nincompoops and just watch what happened.

 

[wingnut771]

Remember how well the NATS ran this baby..

Almost cheapest electricity in the world, then we gave it to nincompoops and just watch what happened.

@mypetcow will be along shortly to say it was subsidised and not all the population had access. WTF cares. It was cheap. Subsidies were paying off bigtime!

 

[mypetcow]

so...business as usual then
Thanks for pointing it out @wingnut771

 

[wingnut771]

so...business as usual then
Thanks for pointing it out @wingnut771

I would argue we were getting better value for money back then.

 

[AlphaJohn]

I would argue we were getting better value for money back then.

They did not even have access to "free" generation back then, ie: Wind & solar.

 

[Danie_V]

That tariff increase is DOUBLE the increase my pension gave me. Eskom workers should never have got an above inflation increase when their company performance was so dismally bad. The minimum was to just keep the lights on, and even that has been a failure. Eskom's workers basically blackmailed the SA population. We'd have happily sacrificed to give them the7% if they in turn could just guarantee keeping our lights on. It seriously does not bode well for any country's upcoming elections when electricity, safety, etc is failing. In some countries, they'd see that as a failure by their government (if it was State Owned Enterprises responsible for those services, of course).

 

[Budza]

Just tax stealing

FTFY

 

[mypetcow]

Better get your houses insulated, get a better insulated geyser and a new fridge people...the next price increase will hit harder next winter. Don't think that the cost for electricity from Eskom will go down until then...or ever for that matter.

 

[Mike Hoxbig]

The Eskom 2 they want to build isn't going to fund itself. Eskom 1 must pay for it so that Eskom 2 can compete with them...

 

[wingnut771]

The Eskom 2 they want to build isn't going to fund itself. Eskom 1 must pay pay it so that Eskom 2 can compete with them...

Will Eskom 2 use Eskom 1's power stations?