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