We are not bankrupt: Eskom

[rpm]

We are not bankrupt: Eskom

Despite ongoing discussions between Eskom and government for urgent funds, and admission that it is in financial crisis, the power utility says it is not bankrupt.

 

[f2wohf]

So paying daily bills is enough to not be bankrupt according to Eskom ?

But at the same time, they can't foresee for the next 12 months (as the law requires) and cannot pay their diesel bills and have a selling price under their production cost for their new products (Medupi).

Sounds like witchcraft

PS: And I don't even mention the expected coal shortage coming in a few years...

 

[Jola]

Hmm, not so sure about that.

Technically they may be bankrupt.

Of course, they can get state support (out of your pocket !)

 

[Compton_effect]

Something tells me all those big industrial sites buying below cost are about to renegotiate their contracts. Wether they like it or not. :twisted:

 

[grok]

They also said there's no crisis ..

Believe anything Eskom says at your own peril.

 

[TEXTILE GUY]

Eskom’s credit rating has been downgraded to junk status, making its debt servicing costs increasingly unaffordable and unsustainable

Matona welcomed government's support package.

"We think it will help relieve our immediate financial challenges for the next three years."

Eskom had put in place an "aggressive" savings target of R60 billion to demonstrate "we are helping ourselves", he said.

“We have enough money to pay our daily bills, said spokesperson, Andrew Etzinger. “We aren’t bankrupt, he said.

So who is fooling who here with this Orwellian double speak?