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
Working abroad? New rules are coming! You're probably breaking the existing ones

Working abroad? New rules are coming! You're probably breaking the existing ones

Bruce Whitfield interviews Warren Ingram, a Personal Financial Advisor and Executive Director at Galileo Capital.

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

The Money Show’s Bruce Whitfield interviews Marais, a quantum biology researcher with dreams to live on Mars.

'Get ready for tax levy to save Eskom, because the money is simply not there'

'Get ready for tax levy to save Eskom, because the money is simply not there'

Eskom has so much debt it threatens to break South Africa. Bruce Whitfield interviews Dr Adrian Saville of Cannon Asset Managers.

Meet Abel Sithole, the man in charge of R1.6 trillion in Government pensions

Meet Abel Sithole, the man in charge of R1.6 trillion in Government pensions

The Money Show’s Bruce Whitfield interviews Abel Sithole, Principal Executive Officer at the GEPF, Africa’s largest pension fund.

Cheekily named load shedding app EskomSePush goes from 2500 to 400 000 users

Cheekily named load shedding app EskomSePush goes from 2500 to 400 000 users

It’s now the most downloaded IOS app and 2nd most downloaded Android app in SA. Bruce Whitfield interviews co-founder Dan Wells.

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
Black gay men can be misogynists, and here's what a few have to say about it

Black gay men can be misogynists, and here's what a few have to say about it

Presenter Eusebius McKaiser hosted a panel discussion with black gay men exploring entrenched patriarchy and the dynamics at play.

Why rooibos tea price remains high despite improved rains

Why rooibos tea price remains high despite improved rains

MD at Rooibos Ltd, Martin Bergh explains the current high price of Rooibos tea.

[WATCH] Owner catches car thief off guard and thwarts vehicle theft in Springs

[WATCH] Owner catches car thief off guard and thwarts vehicle theft in Springs

The vehicle's owner came out of the store just in time to scare away the man attempting to steal his bakkie.

'Bring back skilled engineers to Eskom' - Solidarity

'Bring back skilled engineers to Eskom' - Solidarity

Trade Union Solidarity says it supports Pravin Gordhan's idea that technicians who used to work for Eskom should be brought back.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.