Eskom needs cash injection in 3 months or faces insolvency, Parly committee told

TysonRoux

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Aug 7, 2012
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4,641
Time to pull the tax payer over a barrel again, just like SAA and the other zANC cash cows.

Eskom needs cash injection in 3 months or faces insolvency, Parly committee told

That's the cold hard fact contained in a presentation to Parliament's Public Enterprises Portfolio Committee.

Eskom is technically insolvent and will fail to exist at the current rate by April.


That's the cold hard fact presented to Parliament's Public Enterprises portfolio committee on Wednesday.
The company's debt now stands at R420 billion, posing a significant risk to the economy.

In his State of the Nation Address last week, President Cyril Ramaphosa announced that the entity is to be unbundled into three separate entities.

Eskom is not making enough money to cover its operating and debt service costs.

Municipal debt continues to escalate and the wage bill has also grown threefold since 2007, now standing at almost R30 billion.

An aging fleet, ongoing coal shortages, lack of investment in mines have been cited as reasons for poor operational sustainability.
Acting Director-General Thuto Shomang says cost overruns at Medupi and Kusile power stations are exacerbating the crisis.

He says that systemic corruption and state capture has comprised the credibility of the organisation.

https://mybroadband.co.za/forum/threads/eskom-puts-r1-7-billion-in-its-pocket-instead-of-fixing-power-station.936520/#post-21070966
 

NarrowBandFtw

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Eskom is technically insolvent
No worries man, Squirrel said we're gonna break Eskom up into three, what is zero divided by three again?

and will fail to exist at the current rate by April
If that finally happens, rather than pissing more billions of tax revenue into the black hole, it will be a time for celebration. In the darkness mind you, but still, a celebration!
 

Kosmik

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Sep 21, 2007
Messages
18,903
No worries man, Squirrel said we're gonna break Eskom up into three, what is zero divided by three again?


If that finally happens, rather than pissing more billions of tax revenue into the black hole, it will be a time for celebration. In the darkness mind you, but still, a celebration!
Hey, I got sparkles for the kids so all good for celebration.
 

neoprema

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Jan 12, 2016
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Roaches have run with their millions, another cash injection is needed by the common man to keep power on for the common man, who's being paying millions already...
 

BBSA

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smi

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No worries man, Squirrel said we're gonna break Eskom up into three, what is zero divided by three again?


If that finally happens, rather than pissing more billions of tax revenue into the black hole, it will be a time for celebration. In the darkness mind you, but still, a celebration!
Bring the darkness whiskey doesn't need to be cold or have ice to be enjoyed
 

Lupus

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Apr 25, 2006
Messages
15,423
Wage bill is 30 billion, cut that down to say 3 billion (still a helluva lot), the muncipalities that owe you 20billion each, get them to pay or cut them off. Cut off the countries that don't pay and the debt could probably be settled by the end of the year.
Or try squeeze the tax payers for more and watch them disappear more and more. Look at DSTV you numbskulls.
 

Gordon_R

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ArtyLoop

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Dec 18, 2017
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Wage bill is 30 billion, cut that down to say 3 billion (still a helluva lot), the muncipalities that owe you 20billion each, get them to pay or cut them off. Cut off the countries that don't pay and the debt could probably be settled by the end of the year.
Or try squeeze the tax payers for more and watch them disappear more and more. Look at DSTV you numbskulls.
But they want the taxpayers gone because it is precisely that group that fight against their BS policies, and are the ones who are opposed to their BS like WMC, EWC, etc..
 

Moosedrool

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May 24, 2012
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At the current population at about 57.73 million That R420 billion is more than 7K per South African citizen. It's insane to try and imagine how they even got to this point.
 

Nate3268

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Aug 26, 2016
Messages
207
Restart the **** and put us back in the stone age, since that is what the majority voted for.
 

Lew Skannen

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Jun 20, 2012
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2,903
As already proven with facts, "cash injections" will never stop.

Get rid or Affirmative Action and BEE. These two things are the sole causes of the s**t Eskom currently finds itself in. These things enabled all the trouble, including corruption and state capture. Fire all the current staff and start employing people with knowledge, skills and proper education, irrelevant of race, nationality or gender.
 

BeerIsNotGood...

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Joined
Aug 27, 2015
Messages
5,482
Time to pull the tax payer over a barrel again, just like SAA and the other zANC cash cows.

Eskom needs cash injection in 3 months or faces insolvency, Parly committee told

That's the cold hard fact contained in a presentation to Parliament's Public Enterprises Portfolio Committee.

Eskom is technically insolvent and will fail to exist at the current rate by April.


That's the cold hard fact presented to Parliament's Public Enterprises portfolio committee on Wednesday.
The company's debt now stands at R420 billion, posing a significant risk to the economy.

In his State of the Nation Address last week, President Cyril Ramaphosa announced that the entity is to be unbundled into three separate entities.

Eskom is not making enough money to cover its operating and debt service costs.

Municipal debt continues to escalate and the wage bill has also grown threefold since 2007, now standing at almost R30 billion.

An aging fleet, ongoing coal shortages, lack of investment in mines have been cited as reasons for poor operational sustainability.
Acting Director-General Thuto Shomang says cost overruns at Medupi and Kusile power stations are exacerbating the crisis.

He says that systemic corruption and state capture has comprised the credibility of the organisation.

https://mybroadband.co.za/forum/threads/eskom-puts-r1-7-billion-in-its-pocket-instead-of-fixing-power-station.936520/#post-21070966
Dont forget about the strike
 
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