How the Eskom crisis (now in its 12th year) became an existential threat to SA

Eskom is an utter disaster; financially and operationally, said George Glynos, Head of Research at ETM Analytics on Tuesday.

The deeper you look into what’s going wrong operationally, he said, the greater the clarity in understanding how the crisis at the utility got to this point.

South Africa is currently at stage three load shedding.

On Monday, in a bid to save the grid from total collapse, Eskom shed the biggest load since it started doing so in January 2008.

Eskom wants the National Energy Regulator of South Africa to grant it a 15% increase in electricity prices in each of the next three years.

Eskom reported electricity sales of 212 190 gigawatt hours for the year ending March 2018 – the lowest annual total since 2003.

South Africans are responding to price hikes and load shedding by adopting alternative power sources such as gas and solar panels, resulting in rapidly reducing demand for electricity from Eskom.

The Money Show’s Bruce Whitfield interviewed Glynos.

Listen to the interview in the audio below (and scroll down for quotes from it).

Total disgust… massive frustration! Once again, taxpayers being disrespected… Why we put up with this mediocrity… We’re still waiting for anyone to face the music for what they have done…

George Glynos, Head of Research - ETM Analytics

Until we change the ultimate culture of this government and the ideologies that rest within the ANC I suspect we’re going to be dealing with these issues for many years to come.

George Glynos, Head of Research - ETM Analytics

We continue to tiptoe to an IMF bailout…

George Glynos, Head of Research - ETM Analytics

It’s a flawed ideology that Government needs a role in everything strategic in this country…. There are companies that are better skilled… Yet, we choose to crowd them out…

George Glynos, Head of Research - ETM Analytics

Nationalising state assets has been a disaster… There are so many examples…

George Glynos, Head of Research - ETM Analytics

Prioritising 10 000 workers that may need to be laid off at Eskom… this economy can easily add 50 000 jobs in a quarter if the environment was stable…

George Glynos, Head of Research - ETM Analytics

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : How the Eskom crisis (now in its 12th year) became an existential threat to SA


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.

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.

Eskom load shedding is smashing businesses and any hope of a jobs recovery in SA

Eskom load shedding is smashing businesses and any hope of a jobs recovery in SA

Bruce Whitfield speaks to Tanya Cohen (Busa), Philippa Rodseth (Manufacturing Circle) and Henk Langenhoven (Minerals Council SA).

How privatisation of Eskom can stop its apocalyptic effect on the economy

How privatisation of Eskom can stop its apocalyptic effect on the economy

Privatisation can unlock Eskom’s potential to operate like highly successful utilities globally, according to Neeraj Sanjay Mense.

Popular articles
'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.

MTN boss set to rake in billions from the Brulpadda gas find

MTN boss set to rake in billions from the Brulpadda gas find

French oil and gas company Total and Nhleko’s company Arostyle Investments owns 45% and 5% of the exploration rights respectively.

Eskom paid R300 billion (and counting) for 2 deeply flawed coal-fired dinosaurs

Eskom paid R300 billion (and counting) for 2 deeply flawed coal-fired dinosaurs

Litigation will follow, says Minister Gordhan. Business Day’s Carol Paton on his inquiry into the failing Medupi and Kusile.

South Africa just became the world’s hottest destination for oil exploration

South Africa just became the world’s hottest destination for oil exploration

The Money Show’s Bruce Whitfield interviews Stephen Larkin, CEO at Africa New Energies.

[LISTEN] Discovery Health defends decision to shift certain ops to day hospitals

[LISTEN] Discovery Health defends decision to shift certain ops to day hospitals

Kieno Kammies speaks to Dr Ryan Noach Deputy Chief Executive at Discovery Health and Dr K who says his patients are suffering.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Eskom has warned that more power cuts can be expected as maintenance continues over the next twelve months.

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.