Is another billion-rand Eskom bailout on the cards?
14 July 2023
Breakdowns at Eskom are currently at 17 679MW of generating capacity with an additional 3 090 MW out of service for planned maintenance. This has resulted in the implementation by Eskom of Stage 6 load-shedding, after much ministerial fanfare about how Eskom had enough generating capacity to withstand the onset of cold weather.
The question is: where are we heading?
Among many strict conditions of the recent bailout the utility received, the agreement stipulates that Eskom cannot take on any more debt and imposes conditions that restrict the utility’s access to loans for three years, pending written permission from the Finance Minister.
Is there therefore yet another bailout is on the cards to meet the ongoing profligate spend on diesel while a proverbial genie is coaxed out of a bottle to attend to the self-inflicted scars on our power plants?