Eskom‘s acting CEO, Jabu Mabuza has pleaded with the country to get behind the new CEO who takes over the reigns early in 2020. Andre De Ruyter is the CEO of packaging giant, Nampak.
His appointment at Eskom has been met with much criticism, mainly from a transformation perspective.
Mabuza was speaking at the presentation of Eskom’s interim results at Sunninghill, north of Johannesburg .
“We were never given any script as to whom to appoint; we were told to appoint the person we considered suitable and the person we as a board and Eskom can work with and that’s exactly what we’ve done. There aren’t many people that would wanna be so selfless to leave better paying jobs, be prepared to take less than the average of the last three CEO’s that have worked for Eskom.”
Mabuza also says the power utility requires a cost effective tariff increase and it is therefore challenging the Energy Regulator’s determination which amounts to a tariff increase of around 8%.
Eskom requires a cost-reflective tariff increase. It is for this reason that we are challenging Nersa’s recent tariff decisions in the High Court. We are pleading for a tariff increase that is consistent with the MYPDmethodology.
— Eskom Hld SOC Ltd (@Eskom_SA) November 28, 2019
Its challenge could lead to a tariff increase of around 16%.
Mabuza says Eskom expects to announce a similar loss in March 2020 as 2018.
#JabuMabuza : While a net profit of R1.3 billion was realised by September, a R20 billion loss is projected by year end.#EskomInterimResults2019 #EskomResults
— Eskom Hld SOC Ltd (@Eskom_SA) November 28, 2019
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