Embattled power utility Eskom announces a new key player.
Power utility Eskom has appointed Martin Buys as acting chief financial officer with immediate effect and until further notice.
Eskom said that there is also concern over the fact that the company is in a ‘debt-reliant liquidity situation’ resulting from low tariffs, stagnant and contracting sales volumes, above-inflation cost increases and constrained generation performance. Friedrich added that the debt relief would come primarily through stock-flow adjustments extending the government’s already wide debt. This, however, was no surprise with the government talking about taking on the debt for a long period, he added.
Despite internal changes, load shedding continues to plague the country. This Friday, Eskom broke away from the trend of the last two weeks and pushed load shedding up to stage 4 for the coming weekend.
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