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'Between 1923 and 2008 Eskom received no fiscal support – not a cent'

5 March 2020 9:38 AM
Tags:
Eskom
Electricity
Load shedding
Anton Eberhard
energy
Eskom bailout

For 85 years Eskom got no bailouts. Over the last decade, it received a life-stealing R83bn in support, says Prof Anton Eberhard.

Eskom was founded in 1923.

Between then and 2008 (85 years!) it received no bailouts – not a cent - from taxpayers, says University of Cape Town energy policy and investment specialist and advisor Professor Anton Eberhard.

Over the last decade, Eskom received a life-stealing R83 billion in support.

In 2020 Eskom gets R49 billion while taxpayers will fork out another R112 billion over the coming three years.

Bailouts to South Africa's state-owned enterprises are ballooning without any demonstrable progress in restoring their financial health. Eskom received no fiscal support between 1923 and 2008. Then over the last decade - R83 billion; this year - R49 billion; next three years - R112 billion. Completely unsustainable.

Anton Eberhard, energy policy and investment specialist - UCT

5 March 2020 9:38 AM
Tags:
Eskom
Electricity
Load shedding
Anton Eberhard
energy
Eskom bailout

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