{"id":241755,"date":"2022-11-02T09:58:50","date_gmt":"2022-11-02T07:58:50","guid":{"rendered":"https:\/\/www.myza.co.za\/eskom-welcomes-proposed-government-intervention\/"},"modified":"2022-11-02T09:58:50","modified_gmt":"2022-11-02T07:58:50","slug":"eskom-welcomes-proposed-government-intervention","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/eskom-welcomes-proposed-government-intervention\/","title":{"rendered":"Eskom welcomes proposed government intervention"},"content":{"rendered":"
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Eskom says addressing its debt challenges is key to its turnaround strategy.<\/p>\n

This after Finance Minister Enoch Godongwana announced in the Mid-Term Budget Policy Statement (MTBPS) that government will be taking over a portion of the power utility\u2019s R400 billion debt.<\/p>\n

\u201cAddressing Eskom\u2019s debt levels is a key component to the turnaround plan envisaged under the Department of Public Enterprises\u2019 \u2018Roadmap for Eskom in a Reformed Electricity Supply Industry\u2019 and as noted in the MTBPS, a debt takeover by government (together with other reforms at Eskom and in the South African electricity sector) will ensure the long term financial sustainability of Eskom. <\/p>\n

\u201cThe implementation of a debt relief solution and such reforms to the electricity sector will allow Eskom to undertake the much needed capital and investment programmes to ensure the stability and security of supply of electricity in the country without relying on further government bailouts,\u201d Eskom said.<\/p>\n

The power utility said it will consult with government and stakeholders in due course.<\/p>\n

\u201cAs the Minister of Finance noted in the MTBPS, the government is working to finalise details of the proposed solution \u2013 including the quantum of proposed relief, the relevant debt instruments to be included and the method for effecting the transaction \u2013 and it intends to provide further details in its 2023 Budget. <\/p>\n

\u201cEskom looks forward to working closely and collaboratively with the government in the coming weeks in order to develop a solution that ensures Eskom is restored as a financial independent, transparent and operationally efficient company.<\/p>\n

\u201cEskom very much appreciates the ongoing support and cooperation of its investors and stakeholders and will engage and consult with them on the debt relief solution at the appropriate time,\u201d the electricity supplier said.<\/p>\n

Meanwhile, the company says it is continuing its work in the unbundling of its transmission division as part of its turnaround plan.<\/p>\n

\u201cThe unbundling programme envisaged under the Department of Public Enterprises\u2019 Roadmap remains of critical importance to the long term sustainability of Eskom\u2019s business and to the supply and distribution of electricity in the country.<\/p>\n

\u201c[Accordingly], Eskom will continue to engage with the National Energy Regulator of South Africa<\/p>\n

and the relevant creditors as applicable in order to satisfy those suspensive conditions and implement the Transmission unbundling as soon as possible,\u201d Eskom said. \u2013 SAnews.gov.za<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Eskom says addressing its debt challenges is key to its turnaround strategy. This after Finance Minister Enoch Godongwana announced in the Mid-Term Budget Policy Statement (MTBPS) that government will be taking over a portion of the power utility\u2019s R400 billion debt. \u201cAddressing Eskom\u2019s debt levels is a key component to the turnaround plan envisaged under […]<\/p>\n","protected":false},"author":1,"featured_media":241756,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[38678],"class_list":{"0":"post-241755","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-south-africa","8":"tag-sanews","9":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2022\/11\/eskom-welcomes-proposed-government-intervention.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/241755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=241755"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/241755\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/241756"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=241755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=241755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=241755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}