Eskom says it is confident that it will meet its reporting obligations to Parliament after being told that it will not receive any other financial support.
Treasury wants Eskom to get its house in order and fix ailing power stations with its own money. Treasury briefed Parliament on the power utility's Debt Relief Bill, reiterating that Eskom may not borrow for the next three years. The department says Eskom will not receive any other financial support from the government and must fund all of the expenditure from the tariff raised from customers. For more on this, we’re joined by Eskom's Martin Buys.
JOHANNESBURG - Treasury wants Eskom to get its house in order and fix ailing power stations with its own money. It briefed Parliament on Eskom's Debt Relief Bill, reiterating that the power utility may not borrow for the next three years.The department says Eskom won't be receiving any more financial support from government and it must fund all its expenditures from tariffs raised from customers.
"We are very comfortable with the decision by National Treasury," said Martin Buys, acting Eskom CFO. "It will actually allow us the opportunity to do more long-term planning because we can now more accurately predict how much money we'll have available."
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eskom’s operating chief Jan Oberholzer on retirement, loadshedding and what Eskom needs to succeed | YouHe’s seen the darkest of times at Eskom but now Jan Oberholzer is ready to retire and just be a husband and father. | YouMagazine
Read more »
State has given Eskom half a trillion rand since load shedding started | BusinessEskom will have received close to half a trillion rand in state support almost two decades since it started imposing debilitating nationwide blackouts in 2008. | News24_Business
Read more »
Eskom to keep SA in stage 5 and 6 load shedding 'until further notice' | The CitizenEskom has announced that stage 6 load shedding will continue until 5am on Tuesday. 💡
Read more »
Eskom gives stage 6 load-shedding update — here is the timetableEskom has given an update on its power station fleet.
Read more »
Eskom has received close to half a trillion rand of taxpayers’ moneyEskom has survived on government bailouts since at least 2008.
Read more »