PARLIAMENT: Down the rabbit hole – three committees, three takes on Eskom

There are a few hard truths, and numbers. Eskom’s debt is at more than R440-billion and rising, according to the power utility’s own financials. National Treasury says debt repayments now stand at R80-billion a year.

That Eskom Special Appropriation Bill remains before Parliament in the legislative pipeline as the clock ticks to month-end. The law is needed to release at least the first tranche or the R26-billion for the 2019/20 financial year. Coincidentally, the condition of a deadline by when Kusile and Medupi power stations must be completed — both are years overdue and tens of billions of rand over budget — echoes the recommendations by Scopa, the Standing Committee on Public Accounts.

It was a different atmosphere down a parliamentary corridor and around the corner from where Eskom briefed Parliament’s public enterprise committee. The irony is that Eskom’s argument for higher prices cannot be sustained on its own figures. Eskom’s statistics presented to MPs as far back as February 2019Sales dropped from 212 terawatt-hours in the year to March 2018 to 208 TWh by March 2019, according to the Eskom briefing document, which states “reduction in sales mainly in mining and residential categories”.

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