The ruling African National Congress is considering the formation of a second state-owned power utility to challenge Eskom’s monopoly in the country, says president Cyril Ramaphosa.
The ruling African National Congress is considering forming a second state-owned power utility to challenge Eskom’s monopoly in the country, says president Cyril Ramaphosa.News24
“Eskom has been operating as a monopoly for over 100 years and having one company taking up the role of providing energy to the entire country poses a great risk. If it fails, its failure becomes a peculiar failure for the entire country,” he said. Ramaphosa is expected to address the nation in the coming days on his government’s new interventions around load shedding. It is not clear whether the formation of a new power utility forms part of the new interventions.Business Unity South Africa says it is standing by to rally its resources, skills and capacity to assist with the urgent implementation of focused interventions to address the energy crisis expected to be announced by the president over the coming days.
“We hope that the president’s announcement will provide a clear path, with deadlines that demonstrate the urgency with which the proposed actions will be implemented,” said chief executive Cas Coovadia. South Africa’s labour minister said he’ll oppose any move to privatise Eskom as it struggles to produce power and get ahead of a mountain of debt.
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