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