Acting CEO Brian Molefe on what he told Parliament about the situation at Eskom

Also read the following related article:

* Can Brian Molefe do at Eskom what he did at Transnet?

Eskom’s newly appointed Acting CEO Brian Molefe told Parliament on Wednesday that the beleaguered power utility is not close to bankruptcy and will work with ratings agencies to avoid further downgrades.

The electricity provider will get R23-billion from government, but still faces a funding gap of R200-billion to 2018.

Molefe informed parliament of Eskom’s maintenance backlog and said the utility needs between 3000 and 5000 megawatts of electricity to carry out repairs to avoid further power cuts.

Listen to the audio (scroll down) for comment by Molefe on his presentation to the public enterprises and energy portfolio committees of the National Assembly.

Medupi may be delayed until 2021. But that’s a conservative estimate. We’re struggling with labour unrest. We need to talk to our contractors and the unions. They must pull up their socks. If we had Kusile and Medupi we wouldn’t have this situation.

Brian Molefe, Eskom Acting CEO

I’d like to sit with Standard & Poor's to understand what they want us to do. We will execute every single suggestion they make until we get back to an investment rating.

Brian Molefe, Eskom Acting CEO

We’re having a ‘maintenance festival’ this weekend. We’re going to do a lot of maintenance, hopefully, without load shedding.

Brian Molefe, Eskom Acting CEO

(Click here for every single article from "The Money Show" ever published on our websites.)


This article first appeared on 702 : Acting CEO Brian Molefe on what he told Parliament about the situation at Eskom


Recommended

by NEWSROOM AI
Read More
How to get rich by investing in smoking hot US and Canadian dagga shares

How to get rich by investing in smoking hot US and Canadian dagga shares

Returns of 500% are not unheard of. Is this another crypto-like bubble? Not in the least, says Financial Advisor Warren Ingram.

The businesses that boomed and went bust on Business Unusual

The businesses that boomed and went bust on Business Unusual

Predictions, products and personalities featured in "Business Unusual" in the last three years.

Hits from the bong (it’s legal!)… then off to work I go?

Hits from the bong (it’s legal!)… then off to work I go?

The consequences of consuming dagga at home and showing up at the office high. Bruce Whitfield interviews a labour lawyer.

The ANC cannot claim innocence - Mahlatsi Mahlase (Sanef)

The ANC cannot claim innocence - Mahlatsi Mahlase (Sanef)

The Money Show’s Bruce Whitfield interviews Mahlatsi Mahlase of the South African National Editors Forum (Sanef).

Solutionist Thinking: In Conversation with FirstRand's founders

Solutionist Thinking: In Conversation with FirstRand's founders

In the bonus episode of Solutionist Thinking with RMB, Bruce Whitfield speaks the founders of FirstRand, GT Ferreira, Laurie Dippenaar and Paul Harris.

Can Brian Molefe do at Eskom what he did at Transnet?

Can Brian Molefe do at Eskom what he did at Transnet?

An emerging market economist discusses whether acting Eskom CEO Brian Molefe can turn the limping parastatal around.

Popular articles
[LISTEN] New Visa regulations could change the face of South African tourism

[LISTEN] New Visa regulations could change the face of South African tourism

Lecturer at TUT's Dept of Tourism, Unathi Henama says that the tourism sector is at the center of the economic policies in SA.

We call it Heritage Day so it's more inclusive - Coconut Kelz (Lesego Thlabi)

We call it Heritage Day so it's more inclusive - Coconut Kelz (Lesego Thlabi)

In this segment of the Current Affairs with Coconut Kelz, satirical comedian Lesego Thlabi channels Kelz to chat about Heritage Day.

'My hubby is 75 and we still do it' - stories about sex on the other side of 50

'My hubby is 75 and we still do it' - stories about sex on the other side of 50

Is biology putting the brakes on your sexuality? Callers share their experiences of sex and growing older.

'Some weed plants with high levels of chemicals have been linked to psychosis'

'Some weed plants with high levels of chemicals have been linked to psychosis'

Naked Scientist, Chris Smith shares his insights on some of the risks associated with smoking marijuana.

DStv Premium on a downward spiral, warns tech guru

DStv Premium on a downward spiral, warns tech guru

DStv has lost about 140 000 Premium subscribers to Netflix over the past two years, tech expert Arthur Goldstuck.

17-year-old learner killed teacher for not allowing him to jump the food queue

17-year-old learner killed teacher for not allowing him to jump the food queue

Spokesperson for Education department says the fact that this learner is still in Grade 10 at 17 may indicate there is a problem.

Tell me what you want: Study reveals most common sexual fantasies

Tell me what you want: Study reveals most common sexual fantasies

What are your sexual fantasies? Disclosure can bring sexual freedom, but it can also have downsides. A study lists the top trends.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.