The power utility Eskom is unable to service its debt of about 450 billion rand and has to borrow to pay it.
Power utility Eskom says it will keep the lights on despite a very challenging winter period.
Eskom has announced that Mandla Maleka has been appointed Interim Group Treasurer following the end of Andre Pillay’s tenure.
The National Treasury has told Parliament that should Eskom fail to implement its funding plan by the end of March next year, it will end up requiring additional funding.
Parliament’s public accounts committee (Scopa) is meeting with Eskom management at the Medupi power station in Lephalale, Limpopo.
The Department of Public Enterprises says it will, in the next few weeks, publish a paper outlining governments plans for embattled power utility Eskom.
Members of the environmental NGO, Greenpeace Africa have blocked the entrance to Eskom’s headquarters at Megawatt Park in Johannesburg.
The National Union of Mineworkers (NUM) is calling for an internal audit at Eskom, saying it believes corruption is continuing at the power utility’s management level.
Eskom has confirmed it has started to sell large quantities of electricity to Zimbabwe again, fully reinstating a power export arrangement it had curtailed after the country failed to pay its debts.
South Africa’s state power utility Eskom urgently needs a turnaround plan as its capital structure is unsustainable, credit ratings agency Moody’s said on Tuesday in a report which sent the rand to a two-month low.