The logo of state power utility Eskom is seen outside Cape Town's Koeberg nuclear power plant in this picture taken March 20, 2016.
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.
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.
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.
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.
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.
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.
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".
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.
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.
South Africa's President Cyril Ramaphosa addresses the Investing in African Mining Indaba conference in Cape Town, South Africa February 5, 2019.
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.
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...
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.
Cash-strapped power utility Eskom said it had secured a R15 billion loan facility with a consortium of local and international lenders.
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.
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.
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.
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...
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,
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.