SA to announce Eskom policy

After finalising the grand economic plan.
Cabinet members discuss plans to kickstart the economy and save Eskom. Image: Waldo Swiegers, Bloomberg

The South African government will announce its strategy to turn around ailing Eskom after it finalises a master plan to revive the economy, according to Minister in the Presidency Jackson Mthembu.

Cabinet members held a special meeting Thursday to discuss an economic draft formulated by the National Treasury, Mthembu told reporters in Cape Town. They also discussed a blueprint, known as the Integrated Resources Plan, that maps out the nation’s energy mix for the next two decades, he said.

Eskom, which supplies about 95% of South Africa’s power, has been granted R128 billion ($8.7 billion) in state bailouts over the next three years to remain solvent. The government has proposed splitting the utility into generation, transmission and distribution units and is evaluating a range of options to reduce the costs of the debt and improve its performance.

© 2019 Bloomberg L.P.

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“The South African government will announce its strategy to turn around ailing Eskom after it finalises a master plan to revive the economy” A master plan ? Sounds fascinating – break out the popcorn !

When a socialist political party comes with a Master Plan we should expect a wall to fall somewhere, soon. The inevitable capitulation of the Central Planners in Moskow led to the fall of the Berlin Wall. Maybe Eskom is our Berlin Wall. When Eskom falls we can become a free society, the constitutional democracy we are supposed to be.

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