Eskom CEO Andre de Ruyter says the company needs price hike and bailouts to survive.
Eskom needs debt relief in combination with tariff increases to survive, said Chief Executive Officer Andre de Ruyter, who has led the utility for three years as South Africa’s power outages have intensified.
Financial constraints at Eskom, which has R396 billion of debt, combined with breakdowns, theft and sabotage at its plants have caused the utility to impose blackouts for about 15 years, but the outages have progressively worsened in the past five months with Ramaphosa’s administration scrambling to find a way out of the crisis.
South Africans have suffered through the worst levels of load shedding on record, with rolling blackouts hitting every single day of 2023 so far.
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