Eskom must roughly halve its debt — reducing it by R250-billion — if it is to get back to an even financial footing based on current revenues, according to chairperson Jabu Mabuza.
“Where we are … we need to have the ability [to], from our revenues, less our costs, we have an ability to service R250-billion less [in debt] than what we have,” Mabuza told journalists on Wednesday, after a briefing on the state of the power system.
The utility outlined its plans to get the country through winter without load-shedding, or at the very least, with a maximum of 26 days of stage one load-shedding. This is provided that unplanned outages do not remove more than 9 500 megawatts from the grid.But Public Enterprises Minister Pravin Gordhan said the government would announce the package to address Eskom’s debt problems, either before elections or “soon thereafter”.
According to its latest financials, Eskom’s debt is about R420-billion, but Mabuza indicated that it has since risen.
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