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NUM APPLAUDS ESKOM BOARD FOR DESTABILISING BASE LOAD WHILE STABILISING LOAD SHEDDING

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NUM APPLAUDS ESKOM BOARD FOR DESTABILISING BASE LOAD WHILE STABILISING LOAD SHEDDING

Press Statement, 29 November 2019

 

NUM APPLAUDS ESKOM BOARD FOR DESTABILISING BASE LOAD WHILE STABILISING LOAD SHEDDING

 

The National Union of Mineworkers (NUM) has noted with caution the Eskom interim results presented yesterday by the power utility board Jabu Mabuza. Eskom in its interim results presentation yesterday projected a financial loss of R20bn due to a drastic increase in primary energy, especially coal and the use of expensive diesel fuel OCGT. As long as the government is focussing on unbundling and not fixing Eskom’s challenges and weakness losses will be recorded every financial year. The board appointed before the President undertook the Davos trip in 2018, it adopted a strategy aimed at stabilising, separate and grow the utility.

 

The latest revelations of a slush fund of R75 million meant to enrich top Eskom managers is an indication that the so-called lifestyle audit was nothing else but a fluke. Eskom must undergo an independent comprehensive forensic audit to investigate the extent of corruption and the odious debt.

 

Today, the NUM applauds the Board for destabilizing base-load and stabilizing load shedding at the expense of the economy. We further congratulate them for implementing their strategy pillar of growing the debt and using expensive diesel for fuelling OCGT.

 

This clueless board has no interest in saving Eskom and the economy of the country. The only thing that they are good at is separating the utility into smaller pieces for increasing the ability of each entity to secure loans.

 

This board has failed to implement its strategy. Workers are relieved from their duties if they perform poorly. Similarly, the board must be fired.

 

We restate our position clear and unequivocal that unbundling is not an end by itself, but a means of engaging private capital. We demand an honest and open engagement with the government and Eskom board.

 

For more information, please contact:

 

Paris Mashego: NUM Eskom Energy Sector Coordinator: 079 517 1758

 

Address:

7 Rissik Street.

Cnr Frederick,

Johannesburg 2001

Tel: 011 377 2111

 

Web: www.num.org.za

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