Reducing Eskom’s liabilities will allow the loss-making company to raise funds to carry out plant maintenance and strengthen the power grid. There have been planned electricity cuts every day this year, and for 13 consecutive months, a record based on Bloomberg calculations.
But taking over the liabilities will add to the state’s overall debt burden of almost 5 trillion rand and to its debt-service costs, the fastest-growing expenditure line item for about a decade. The yield on Eskom’s unguaranteed dollar debt maturing in 2028 is climbing for an eighth consecutive day Tuesday, the longest such streak since September. A measure of the company’s risk of default though has remained steady at June 2022 lows.
"I think there is a growing recognition that we can no longer tolerate delays in taking the urgent and bold steps that are needed to start to restore Eskom to standalone financial sustainability," Constantatos said.In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
_Business Christ almighty the ANC gave fuqqd up big time
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_Business Enough godongwane is still accused of raping a women in a massage palour.
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