South Africa should be careful what it says about Eskom

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Jamie McKane

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South Africa should be careful what it says about Eskom

Talks around restructuring Eskom Holdings SOC Ltd.’s bonds must be approached carefully to avoid spooking the market, according to S&P Global Ratings.

Public Enterprises Minister Pravin Gordhan said on Thursday the government will consult with the power utility’s debt holders on any reorganization and that there isn’t any real concern about haircuts.

[Bloomberg]
 
I highly doubt we could spook this market above and beyond. If you see one ghost you will get a fright but if another one appears and another one appears you kind of just dont give a fk anymore.

Looks like Pravin have gone complete softc0ck on this matter. "No real concerns about haircuits" are you shitting me , so he is just singing the same ol ANC goon song now. Guess he found the line and is walking it too.
 
R13... said:
And do what, pray tell, with Eskom and its enormous debt?
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Pull the plug and call it quits. Default on the loans and let the waves of reality wash out 60 years of corruption and state domination of the economy.

South Africa's credit rating would finally match reality (that anyone investing in the country is throwing away their money).
Eskom and all the other SOEs can die off, making space for the private sector to enter the market.
Any IMF or Chinese bailout would require policy reform, the type that will cause major kvetching by the unions and communists. But would ultimately get the country on the path to growth again/
 
Thor said:
Fck Eskom.

Get the private sector to generate electricity, Eskom will be irrelevant in 10 years.
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Someone told me once, you will get something like a "brick", you press it somewhere in at the house and you have power for a year or to, cellphone never needs to be charged, cars run for weeks from this source, the so called "perfect battery", maybe power without electricity as we know it. And maybe he was wright.
 
upup said:
Someone told me once, you will get something like a "brick", you press it somewhere in at the house and you have power for a year or to, cellphone never needs to be charged, cars run for weeks from this source, the so called "perfect battery", maybe power without electricity as we know it. And maybe he was wright.
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If this ever existed it would be illegal in South Africa. Our government would protect Eskom(I mean their personal bank account) from every running dry no matter what. If this did exist they would make damn sure to force a monthly service charge for allowing you to use it else face prison time if you do not comply.

Protectionism is at the heart of our BS hoax of a democratic government.
 
upup said:
Someone told me once, you will get something like a "brick", you press it somewhere in at the house and you have power for a year or to, cellphone never needs to be charged, cars run for weeks from this source, the so called "perfect battery", maybe power without electricity as we know it. And maybe he was wright.
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Yeah no, if he was wright then the person who owned the patent for that "brick" would be the richest person in history by a country fscking mile...
 
You could do it with heat, it's called a "yellow cake" but you wouldn't want it in your house :)

Really though, solar + batteries is cheaper than grid. The game is up...no need for hair brain schemes, it's done... It's real... And it's stilllllll getting cheaper!!
 
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