The National Union of Mineworkers has called for an independent audit on power utility Eskom to probe why it repeatedly fails to post profits.
Johannesburg - The National Union of Mineworkers has called for an independent audit on power utility Eskom to probe why it repeatedly fails to post profits.
The union's president Joseph Montisetse says the relationship between Eskom and big mining companies should be probed, claiming that the sale of energy to big mining companies is conducted illicitly. “The problem with Eskom is corruption, which is prevalent there. We think that there must be an audit by independent auditors that can discover why Eskom cannot make a profit because we believe that the selling of energy to the bigger companies, especially in the mining industry, is not done in a fair way."
“Some companies are getting energy at low, low, rate and with the buying of coal from companies there seems to be no standard that is used by Eskom to buy coal,” said Montisetse. He said that when it came to procurement at Eskom, there are many companies taking a huge chunk of money from the power utility through fraudulent procurement.
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 projected to make a full-year loss of R20bn, says chairmanEskom is saddled with more than R450bn in debt, with the National Treasury and the International Monetary Fund labelling the power utility as the greatest risk to SA.
Read more »
Eskom projected to make a full-year loss of R20bn‘We concede the Eskom turnaround remains a difficult and long journey,’ Eskom chair Jabu Mabuza says
Read more »
Nampak’s share at 28-year low as CEO heads to EskomHyperinflation in Zimbabwe weighed on the packaging group, which has reported a full-year R1.5bn loss
Read more »
Rand weakens ahead of Eskom resultsRealised volumes are likely to remain low for the remainder of the week as US markets close for Thanksgiving, Standard Bank’s Warrick Butler says
Read more »
Nampak’s share at 28-year low as CEO heads to EskomHyperinflation in Zimbabwe weighed on the packaging group, which has reported a full-year R1.5bn loss
Read more »
Unbundling Eskom is like shifting chairs on TitanicUnless structural changes are made to its market design the utility will continue to lurch from crisis to crisis
Read more »