Eskom, Eskom Debt, Andre De Ruyter

Eskom, Eskom Debt

De Ruyter sets objectives for Eskom to be self-sustaining business

De Ruyters sets objectives for Eskom to be self-sustaining business

2020-05-21 03:08:00 PM

De Ruyters sets objectives for Eskom to be self-sustaining business

The power utility has been dependent on government guarantees for years now to keep up with its operations, as it struggles with a R450 billion debt bill.

De Ruyter said that the company was now pursuing a R200 billion debt balance, proposing several measures to achieve this.The Eskom head said that it would take a mix of solutions to address power utility’s financial struggles.In a virtual systems status update briefing, he explained that the company would have to eliminate loadshedding, resolve its disputes with energy regulator Nersa, cut costs and convert energy as efficiently as possible.

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"Those are the parameters within which Eskom will be a financially viable self-sustaining business without any further requirement for equity injections or support from the fiscus. We aim to achieve those objectives."De Ruyter further stated that Eskom was exploring selling off some of its non-core assets such as its finance corporation.

The proceeds from these transactions will be channeled to its debt repayments. Read more: Eyewitness News »

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'Major strides at Eskom' as Medupi powers up and CEO slashes costs Eskom has made major strides in its efforts to improve the operational stability of the power utility, including launching a reliability maintenance project to ensure stable generation, its CEO Andre de Ruyter said So once lockdown ends, no loadshedding? Now that a white man is in charge, its gonna be positive news everyday.. We know you. NOW THATS HOW ITS DONE.Congratulation.