Eskom's losses still escalating, but it can be turned around. Here's how. | Fin24
Eskom’s revenue has gone up 500% in the last ten years but the utility was technically insolvent and would post a record loss of at least R25bn, Professor Anton Eberhard of UCT’s Graduate School of Business said on Tuesday.
Soweto’s accumulated debt to Eskom was R17bn, while other municipalities together owned another R17bn. “And let’s not underestimate state capture, its impact on skills and capabilities. We’ve seen in the task team how deeply it had run into Eskom, and its consequences were many people left,” Eberhard said.
Eberhard said South Africa was one of the most carbon intensive economies in the world. This presented the country with an opportunity: if it closed some of the old, dirty, expensive coal power stations and so reduced its emissions, it could get “climate money” in return.
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