Budget 2023 | Huge bailout for Eskom to come with strings attached | Business

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Budget2023 | The National Treasury will relieve Eskom of R254 billion of its debt over the next three years but has imposed far-reaching conditions, which include that it concession out some of its power stations to the private sector | News24_Business

But the bailout will come with conditions attached including that it concession out power stations to the private sector. News24 Business front pageThe National Treasury will relieve Eskom of R254 billion of its debt over the next three years but has imposed far-reaching conditions, which include that it concession out some of its power stations to the private sector.

The debt relief arrangement will see the government taking responsibility for all Eskom's debt repayments as it matures and annual interest costs. These amount to R78 billion in 2023/24, R66 billion in 2024/25, and R40 billion in 2025/26. This arrangement, subject to strict conditions, will relieve extreme pressure on the utility's balance sheet, enabling it to undertake the necessary maintenance and investment. The operating conditions associated with Eskom debt relief support the broader restructuring of South Africa's electricity industry.

 

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_Business R254bn Eskom bailout, and further R1bn bailout for SAA, what a bloody disgrace, to think all of this is the result of ANC-SACP-COSATU 'Socialist' policies. Never again, I'm a Communitarian NOT a Socialist aka Statist Bureaucrat milking taxpayers dry! StopEskomANC

_Business ANC corruption indeed 🤦🤦The ANC deserves a corruption trophy

_Business No SOE has ever shown a profit. Privatization is the only way to save this country. I agree that BBBEE should be prioritized in this, but not the cadres. This should go to a public company formed for the benefit of the poor.

_Business No, the taxpayer will foot the bill for incompetence and corruption, like always

_Business And they are still unable to pay civil servants citing no money but it is there when they continuosly bail out results of graft in SOEs

_Business That wasnt hard, we have been done again We saw it coming, we were nervous and now it done Brace yourself pips 😁

_Business There you go 😁

_Business And I'm wondering who will buy these power stations... And at what price?

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