Be prepared for shocking Eskom interim results says energy specialist

In the past week, with the implementation of a new Eskom board, we’ve seen officials at the power utility either resigning or turning to the labour courts.

The new board is cleaning house, and Eskom’s former CEO interim Sean Maritz has been asked to provide an explanation about the letter he signed to consultancy firm Mckinsey, claiming that its R1 billion contract with Eskom was lawful.

Also Read: Eskom vs McKinsey contract debacle explained

Energy specialist Ted Blom chats to Ray White in the Midday Report, about the confusion around the Mckinsey contract, and the toxic environment that exists in Eskom.

Blom says that he doesn’t understand the confusion around the contract, and adds that it could come from people scurrying away from being involved. This is an indication of the toxic environment at Eskom, he adds.

People cannot stand up, and own up to what they executed.

Ted Blom, energy specialist

Blom says that the board doesn’t run Eskom, but rather it is run by the senior executives and the senior general managers.

Historically, the board at Eskom has always had a hands-off approach.

Ted Blom, energy specialist

All I can assure you is that Eskom’s interim financial results will be shocking.

Ted Blom, energy specialist

Blom says that he’s expecting an amount of R10 billion – R20 billion which has been partially disclosed.

Click on the link below to hear more of Blom's thoughts...


This article first appeared on 702 : Be prepared for shocking Eskom interim results says energy specialist


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