Selling some of Eskom can be considered: government

Jakes147

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Brown this week ruled out the privatisation of basic services, such as the provision of electricity and water, as a way forward

They may not have a say in the matter for much longer, just look at the continued self provisioning of postal services, communication, education and security. If the government fails to provide reliable basic services the people will look after themselves. The anc will govern themselves into irrelevance.

Bring on the PV...
 
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atomcrusher

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I would be surprised if Eskom is sold. It would mean a huge drop of regular income for those cadres who enjoy the backhanders paid to them.
 

Peon

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Why would the want a controlling stake? For what other purpose? Just admit you cant run a power utility and let a another company fix the situation.

No we need a controlling stake so we can award coal contracts to preferred bidders. Even while we stand on the precipice of total disaster they feel the need to 'troll'
 

mintydroid

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If it's privatised it's definitely not for the individual investor. It needs a corporate buyer who can revamp the system.
 

Mars

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I guess the Gupta's want a power station huh?
 

HavocXphere

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Yeah the level of contradictory statements is a little unsettling...

Still trying to work out though who the hell wants a part of Eskom?
 

Jola

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Yes, a buyer would need a controlling interest, you can't have buffoons messing with your investment.

Also, Eskom's financial position is really poor, you can't sell it, you would have to pay someone to take over the obligations.
 

ToxicBunny

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If it's privatised it's definitely not for the individual investor. It needs a corporate buyer who can revamp the system.

No corporate investor would put money into Eskom at this point...

They would have no say in how their investment is handled (and recent history has shown that it is handled badly consistently), and the financial position of the company is piss poor at the moment.

The assets are obviously worth something, but money of them are coming towards EOL so would not be worth vast sums of money anyway.
 

bekdik

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It will be sold in the same way the SNO infrastructure was sold ...
 

Arthur

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Only an insane private investor or a political lackey would put money into privatised portions that still depended on Caesar's company for revenue and profits.
 

Ancalagon

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Will never happen.

Why bother having a "War Room"? There is no point.

The actions that they would have to take to fix Eskom are completely against what the ANC stands for. Namely, non racial business and politics, and people getting paid on merit instead of being rewarded for towing the party line.

You know what they need to do? Force the municipalities that owe them money to start paying - this includes Soweto, the one they don't want to touch. Then they need to get rid of those BEE coal contracts where they pay 3-4 times the amount that they should be paying. Then stop this AA nonsense and hire people who can do the job, instead of the right colour. Maybe even try to get some of those former Eskom engineers who have fled South Africa to come back - for the right money of course.

Then increase the load shedding and start the maintenance NOW. Get everything working again.

But that will never happen, so what is the point? What could a war room possibly achieve except spending more taxpayers money on Johnny Walker Blue? They will never do any of the above because it goes against everything the party stands for. And without it, Eskom is just not worth investing in. So why even consider privatizing it?
 

Marakker

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Only an insane private investor or a political lackey would put money into privatised portions that still depended on Caesar's company for revenue and profits.

This....

Who would want to buy a portion of this steaming pile of fail anyway?
 

jetlee

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Why would the want a controlling stake? For what other purpose? Just admit you cant run a power utility and let a another company fix the situation.

No we need a controlling stake so we can award coal contracts to preferred bidders. Even while we stand on the precipice of total disaster they feel the need to 'troll'

exactly this
 

Skerminkel

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Selling off stakes or sections of Eskom not such a foolish idea. At the current selling rates electricity generation is certainly feasible, even more so with another 25% increase. Imagine they sell off Majuba or Matimba. The new partner takes over all operations and maintenance with Eskom a silent partner. The new joint entity has a sales agreement with Eskom (Distribution) who would by X kilowatt hour per year for the next ten years. Bob's your uncle.
Ideally they should do the same with Medupi and Kusile, but that potato is way too hot at the moment. I suspect that if they get proper operators of the current ones, the new ones can take their merry time to completion.
 
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