Streaming issues? Report here
Kieno Kammies 2019 1500 BW
Today with Kieno Kammies
09:00 - 12:00
volume_up
volume_mute

Up Next: The Xolani Gwala Show
See full line-up
Today with Kieno Kammies
09:00 - 12:00
Home
arrow_forward
Local

'We need R1.7-trillion to put Eskom on a healthy footing'

17 October 2019 8:25 AM
Tags:
Eskom
Government
bailout
#EskomLoadShedding
Energy expert Ted Blom says Eskom's debt is holding South Africa to ransom.

Just how is beleagured Eskom going to dig itself out of its black hole?

Energy experts have been citing some frightening figures - Mining and Energy Advisory partner Ted Blom says government will need R1.7-trillion to fix the problems at the power utility.

Blom notes that while Eskom has acknowledged it owes at least R450-billion in long-term debt, this figure does not take into account a number of costs.

The power utility announced on Wednesday it will be implementing Stage 2 load shedding due to capacity shortage.

RELATED: Eskom is using load shedding as bargaining chip to get more money, says DA

Eskom has gone on record and said they will open 14 new coal stations, but they have not factored in the costs in their statements.

Ted Blom, Partner - Mining & Energy Advisers

We need R1.7-trillion to put Eskom on a healthy footing. This thing is holding the South African economy to ransom.

Ted Blom, Partner - Mining & Energy Advisers

Blom says Treasury has admitted it does not have R1.7 trillion.

If Treasury has not got it we have to decide if we are going to limp with Eskom for the next 50 years or are we going to fix this immediately and create the 3 million jobs that Eskom has shed.

Ted Blom, Partner - Mining & Energy Advisers

Listen to the full interview below:


17 October 2019 8:25 AM
Tags:
Eskom
Government
bailout
#EskomLoadShedding

More from Local

firemans-arm-fire-twitter-imagejpg

[VIDEO] Cape pub Fireman's Arms up in smoke overnight

21 November 2019 9:26 AM

It appears that most of the damage was limited to the beer garden area. Locals have posted pictures of the fire and the aftermath.

Share this:
Read More arrow_forward

180831-old-mutual-edjpg

We paid before the family arrived with the body – Old Mutual

21 November 2019 9:25 AM

Consumer journalist Wendy Knowler investigates after a poor family’s desperation to get a claim paid made headlines.

Share this:
Read More arrow_forward

Cape Town aerial view stadium Lion's head 123rflocal 123rfSouthAfrica 123rf

New Cape Town water restrictions will be announced in December

21 November 2019 9:25 AM

City of Cape Town Mayco member for water Xanthea Limberg explains how water restrictions and tariffs have been decreased.

Share this:
Read More arrow_forward

Auditor-General Kimi Makwetu

'Accounting officers failed to flag those implicated in irregular expenditure'

21 November 2019 8:12 AM

Auditor General standing committee chair Sakhumzi Somyo says AG now has power to direct accounting officers on action to take.

Share this:
Read More arrow_forward

saps41jpg

Cops uncover dagga lab, weapons cache in Centurion drug raid

20 November 2019 6:16 PM

Authorities uncovered a massive arms cache, including military rifles, machine guns and rocket-propelled grenades, reports EWN.

Share this:
Read More arrow_forward

ewn-reporter-makhandajpg

Pupils forced to relieve themselves in the bushes in drought-stricken Makhanda

20 November 2019 6:06 PM

EWN's Kaylynn Palm has visited Makhanda and Graaff-Reinet, two small towns which have felt the brunt of the Eastern Cape drought.

Share this:
Read More arrow_forward

Cape Town aerial view stadium Lion's head 123rflocal 123rfSouthAfrica 123rf

Finding solutions to CBD parking congestion

20 November 2019 6:01 PM

Ward councillor Dave Bryant is on a mission to solve the problem with the co-operation of ride-hailing and food delivery services.

Share this:
Read More arrow_forward

190909jessechrisjpg

Duo accused of Hess double murder have previous criminal convictions

20 November 2019 4:39 PM

Cape Town student Jesse Hess and her grandfather Chris Lategan were murdered in the Parow flat they called home back in August.

Share this:
Read More arrow_forward

180831-old-mutual-edjpg

Deceased KZN man's family wants to sue Old Mutual but lacks funds

20 November 2019 2:18 PM

Sister-in-law Mtombehle Mhlongo says the insurer paid them within an hour after they took the body to the offices.

Share this:
Read More arrow_forward

rachel-siya-kolisi-lebo-mogomojpg

[WATCH] Viral schoolkid who cried at Bok tour attends awards with the Kolisis

20 November 2019 2:08 PM

He was caught on camera earlier this month, bawling his eyes out when he saw the Bok squad at the start of their victory tour.

Share this:
Read More arrow_forward