Eskom receives another state bailout

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Eskom-2
[Picture: iafrica.com]

Eskom has received yet another bailout from the government to tackle its debt.

The power utility has received an additional R88-billion until 2025 / 2026. Finance Minister Enoch Godongwana says Treasury is working on a sustainable solution to deal with Eskom’s crippling debt, in an equitable and fair manner to all stakeholders.

READ: Municipalities are responsible for their people – Godongwana

This bailout comes as the power utility is still pushing for another electricity tariff hike of 20.5 percent.

The minister however noted that it expects the power utility to take steps towards cost containment, conclude the sale of assets and implement operational improvements to enhance the reliability of electricity supply.

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May 19, 2022
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