South Africa's Eskom forecasts higher loss in 2018/19 - CFO

The logo of state power utility Eskom is seen outside Cape Town's Koeberg nuclear power plant in this picture taken March 20, 2016.

~ Reuters

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South African miners want restructuring of power firm Eskom

Top government officials will discuss whether to split Eskom into generation, transmission and distribution units at a cabinet meeting starting on Wednesday as part of efforts to rescue the company from financial crisis.

Reuters , Africa Jan 30, 2019

Eskom forecasts higher loss in 2018/19

CFO Calib Cassim also said that Eskom is requesting steeper electricity tariff increases over the next three years, of 17.1% in 2019/20, 15.4% in 2020/21 and 15.5% in 2021/22.

EWN , South Africa Feb 3, 2019

South Africa's Eskom narrows funding gap with $1.1 billion loan

South Africa's energy regulator Nersa said on Wednesday it had postponed a decision on tariffs charged by state-run power utility Eskom to March 1 from Feb 25 as it seeks further clarity on diesel costs.

Reuters , Africa Feb 1, 2019

South African union says to strike over Eskom split proposal

JOHANNESBURG (Reuters) - The National Union of Metalworkers of South Africa (NUMSA) said on Thursday that it would strike over a proposal to split up struggling state power firm Eskom, arguing the restructuring would lead to massive job losses.

Reuters , Africa Jan 31, 2019

15% Eskom tariff hike could wipe out 150 000 mining jobs

Minerals Council SA warns that the industry could lose 150 000 jobs if the Nersa granted Eskom the 15 percent annual tariff hike for three years.

IOL , South Africa Jan 30, 2019

Eskom’s loss balloons to R20.1 billion

Business Unity SA (Busa) warned that Eskom would constrain investment in South Africa and contribute to stagnant economic growth, significant job losses and grid defection.

IOL , South Africa Feb 4, 2019

Eskom raises tariff hike demand for 2019/20 to 17.4%

Eskom spokesperson Khulu Phasiwe told ANA the utility had "adjusted the application for the first year of the MYPD (multi-year price determination) period by about two percent".

IOL , South Africa Feb 4, 2019

Unbundling Eskom won't solve its debt woes, says Cosatu

Johannesburg - Trade union federation Cosatu said on Tuesday that it opposed a proposal to split up Eskom into three different entities, adding that it would not solve the struggling utility's governance and debt problems.

IOL , South Africa Feb 5, 2019

Eskom expects to make a R20 billion loss – so it wants to hike fees even more

In KwaZulu-Natal, the power utility is offering a 50% discount on electricity abusers and those connected illegally, in a bid to lessen the blow of R5 billion that it loses each year to these crimes.

Business Tech , South Africa Feb 3, 2019

South Africa to unveil Eskom support package in coming days - Ramaphosa

South Africa's President Cyril Ramaphosa addresses the Investing in African Mining Indaba conference in Cape Town, South Africa February 5, 2019.

Reuters , Africa Feb 5, 2019

Staff picket HQ of South Africa's Eskom over potential job cuts

A task team appointed by Ramaphosa to advise him on ways to save Eskom has proposed splitting it into different entities for generation, transmission and distribution, sources have told Reuters.

Reuters , Africa Feb 7, 2019

S.Africa's Ramaphosa pledges to fix economy as election looms

Ramaphosa is balancing efforts to revive an economy burdened by government debt and mismanagement with the need to retain the support of elements in his ruling African National Congress (ANC) and powerful labour unions who oppose reforms that coul...

Reuters , Africa Feb 7, 2019

#MiningIndaba: Eskom is too important to fail, says Ramaphosa

Speaking at the Mining Indaba in Cape Town, Ramaphosa admitted that Eskom was currently facing significant operational, financial and structural challenges, but said government was giving detailed attention to the crisis.

IOL , South Africa Feb 5, 2019

Debt-ridden Eskom secures R15 billion loan

Cash-strapped power utility Eskom said it had secured a R15 billion loan facility with a consortium of local and international lenders.

IOL , South Africa Feb 1, 2019

South African business confidence index falls in January

JOHANNESBURG (Reuters) - South Africa’s business confidence was stable in January, with investors seeing progress in the economic and political reform as stalling while activity in the real economy remained sluggish, a survey showed on Wedensday.

Reuters , Africa Feb 6, 2019

Markets look to Ramaphosa’s speech for clarity on Eskom

JOHANNESBURG – The markets’ attention will zoom in on President Cyril Ramaphosa this week to shed light on potential measures to keep Eskom afloat after it garnered a R15 billion loan facility on Friday.

IOL , South Africa Feb 4, 2019

Looming losses for 2018-2019 sees Eskom raise tariff hikes higher than 15%

The national energy regulator of South Africa (NERSA) has, for the past week, been holding public hearings on Eskom’s application for a tariff hike for the next three years.

The South African , South Africa Feb 4, 2019

Eskom's tariff hike to hit-hard on mining sector

CAPE TOWN – The most critical challenges facing South Africa is the sustainability of Eskom which would require some sort of workable solutions but not the price increases, Minerals Council of South Africa chief executive, Roger Baxter said on Tue...

IOL , South Africa Feb 5, 2019

5 ways South Africa could fix Eskom

Eskom is “a super-broken machine” whose business strategy is out of sync with market reality, said Iraj Abedian, the head of Pan-African Investments and Research Services who has advised the government on economic policy,

Business Tech , South Africa Jan 30, 2019

#SONA2019: Ramaphosa vows government will support Eskom's balance sheet

Cape Town - President Cyril Ramaphosa said on Thursday that government would support the balance sheet of the troubled State-owned power utility Eskom, but said that this would be done without burdening the fiscus with unmanageable debt.

IOL , South Africa Feb 7, 2019