Without decisive intervention, Eskom’s unsustainable debt levels will plunge the entire economy into darkness. But the rising prominence of renewable energy is providing hope.
Despite a more than 500% increase in tariffs since 2007, Eskom is not generating enough cash to service principle and interest payments on its massive debt burden, which has increased to around R440 billion this year.
Speaking at a renewable energy event hosted by Absa in Paarl recently, Anton Eberhard, professor emeritus at the University of Cape Town, who serves on a government task force charged with advising on a rescue plan for Eskom, said the utility was effectively insolvent and would post a record loss of about R25 billion for the 2019 financial year.
Some of the main causes for the perilous financial position Eskom found itself in were “massive time and cost overruns at new mega coal power stations, Medupi and Kusile, ballooning coal contracting and payroll costs, and municipal electricity debt arrears”. According to Eberhard, this now amounted to more than R36 billion and was increasing by as much R1 billion per month.
FROM BAD TO WORSE
Bu hikaye Farmer's Weekly dergisinin July 12, 2019 sayısından alınmıştır.
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Bu hikaye Farmer's Weekly dergisinin July 12, 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Syngenta Seedcare celebrates a decade of innovation
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Lindie-Alet van Staden, a garden and olive orchard manager at L’Ormarins Wine Estate in Franschhoek, was crowned as the Western Cape Prestige Agri-Worker of 2024 at a gala event recently held near Paarl.
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The annual Grain SA/Syngenta awards ceremony bears testimony to the quality of farmers in the grain industry.
Growing partnerships: Fedgroup's flexible and innovative approach
Janine Ryan spoke to Warren Winchester, general manager of impact investing at Fedgroup, about why the company became involved in agriculture, and what it offers farmers and their immediate communities.
Why fish farms fail, and how to avoid becoming a statistic
The popularity of launching fish farms is not matched by their success. Leslie Ter Morshuizen, owner of Aquaculture Solutions, explores the factors that cause most of these businesses to go under.
Where history and modernity meet in a luxurious setting
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THE HITCHING POST
I'm a stylish elderly lady with a radiant glow and a good sense of humour that keeps me young at heart.
Cutworms: check the weeds on your fields!
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Does high-density grazing mimic grazing patterns of game?
In their paper on high-density grazing in Southern Africa, professors Angelinus Franke and Elmarie Kotzé from the Department of Soil, Crop and Climate Sciences at the University of the Free State say high-density grazing systems may not accurately reflect natural ecosystems. Roelof Bezuidenhout reports.
Global grain outlook: 2024/25 marketing season
In its latest summer crops report, the Crop Estimates Committee says South African farmers intend to plant 4,47 million hectares of summer grains and oilseeds in the 2024/25 season, up 1% from the previous season. As South Africa exports maize and soya bean, Annelie Coleman reports on the latest trends in the international grain and oilseed markets, amid fluctuations in weather conditions and ongoing armed conflicts.
