Eskom will continue to be financial drain for government: Analyst - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Independent energy consultant Andrew Kenny has warned that Eskom will continue to be a financial drain for government because of its rising operating costs.owes its creditors over R400 billion and does not generate enough cash to pay even the interest on its debt.

President Cyril Ramaphosa appointed a team of advisors and has announced that Eskom is to be split into three subsidiaries namely – generation, transmission and distribution. Some experts have warned that this could lead to increased efficiencies, especially if competition is allowed. Kenny says what can help rescue Eskom is having to increase electricity tariffs which aren’t too high by world standards.

He says: “Prices have gone up a lot lately but they are not high by world standards. What can also help is to cut down Eskom’s costs and again there’s political interference here. It’s massively over-staffed. It’s got twice as many people working for it as it needs, all earning huge salaries.”

They are not the only ones 🙄☝️

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eskom notes Moody’s downgrade with disappointment - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Eskom notes Moody’s downgrade with disappointment Eskom says it has noted with disappointment Moody’s decision to downgrade the power utility’s credit rating of its unsecured debt deeper into sub investment grade. ? What? Disappointment? They’ve been given how many lifelines? They’ve done exactly nothing to correct the situation, but expect the world to treat them the way the corrupt anc does? Really, these people can’t solve the problem if they can’t even see what the problem is! Let's hope is not a ldea of putting Eskom on sale If South Africa is an integral part of BRICS, why beg Moody’s which an extension of global Central banks . Yes! The nuclear option would have worked but South Africa is being incarcerated by British and Rothschild debt
Source: SABC News Online - 🏆 32. / 51 Read more »