State Enterprise Minister Provin Gordhan says Eskom has made progress in stabilizing its finances. Gordhan spoke to members of parliament while voting for his department’s budget. On Friday, he addressed deputies during a vote on the budget in his office.
Gordhan claims that preliminary unverified results show that the company’s profit before interest, taxes, depreciation and amortization has grown by more than 85% since fiscal 2021.
Gordhan says the organization has also achieved savings of Rs 50 billion thanks to its savings program, which began in the 2019 and 2020 fiscal years.
He says: “Further reduction of the debt to 396 billion rubles was also achieved. The restructuring process is in full swing, and the transmitter company has already been set up … and all that is expected is finances to allow Eskom to move in that direction. ”
Gordon says acts of sabotage continue to contribute to Eskom’s struggle for power. He says someone cut an important cable at the Hendrin power plant, which would allow it to be connected to the rest of the grid.
The minister says this is one of several cases of sabotage and corruption that have been exposed in recent days.
He says the actions directly contributed to power outages affected in the country.
VIDEO: Monday’s briefing for Eskom’s media leadership on the current systemic problem:
Stage 2 rolling blackout
Meanwhile, Eskom says the second phase of the power outage will continue over the weekend after it failed to resuscitate some of the generating units. This week, energy plunged the country into darkness again.
Eskom spokesman Sihanati Matshansha explains: “Due to the constant shortage of generation capacity, the 2nd stage of load lifting will be implemented today from 17:00 to 22:00. Unloading will be repeated on Saturday and Sunday. Eskom will continue to monitor the system and report any changes if necessary. ”