[LISTEN] The Chinese loan is not a solution to Eskom's debt problem, says expert

Government has announced a record R69 billion bailout for Eskom to be paid out in three years.

R23 billion is pledged for the current financial year.

The state-owned enterprise recently approached the National Treasury to secure a R17.6 billion bailout to keep operations going.

Over the weekend the government made R5 billion available earlier than expected.

Eskom has promised that winter will not be cold as they will not implement any load-shedding.

Eusebius McKaiser spoke to energy expert and MD at EE Publishers Chris Yelland about what Eskom needs to fix to keep the lights on.

READ: Gordhan: No, Eskom is not on the brink of collapse

I think it is was a genuine emergency because had Eskom gone into default, the consequences for South Africa would have been very serious. I think Eskom financially was on the brink.

Chris Yelland, Energy expert and MD - EE Publishers

Eskom is supposed to get a loan from the China Development Bank which did not arrive on time.

The Chinese loan is not a solution to Eskom's debt problem.

Chris Yelland, Energy expert and MD - EE Publishers

Yelland says the problems in the electricity supply industry go beyond Eskom.

We don't have an integrated energy plan although the law requires the minister of energy to publish one every year since 2008.

Chris Yelland, Energy expert and MD - EE Publishers

The Department of Energy has been talking about it but they never get it out. We don't have a country plan.

Chris Yelland, Energy expert and MD - EE Publishers

Listen to the full interview below...


This article first appeared on 702 : [LISTEN] The Chinese loan is not a solution to Eskom's debt problem, says expert


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