OPTIMUM FINE
Change of heart lets Eskom settle with Gupta family’s Tegeta
Secrecy around the settlement is likely to fuel speculation the Guptas are again beneficiaries of another sweetheart deal from Eskom
Eskom and the Gupta family’s Tegeta Exploration & Resources have reached an arbitrated settlement on a controversial R2bn fine that the power utility had levied on Optimum Coal, previously owned by Glencore. Departing from its well-publicised campaign to force Glencore to pay up, Eskom said on Monday that the settlement was "confidential" as it was reached in private arbitration. "We are not at liberty to disclose the contents of the agreement," said Eskom spokesman Khulu Phasiwe. An award was made on March 31. The secrecy is likely to fuel speculation that the Guptas are again beneficiaries of another sweetheart deal from Eskom, whose prepayment of more than R600m to Tegeta was found by the public protector to be irregular. This payment paved the way for Tegeta to buy Optimum from Glencore. Former Eskom CEO Brian Molefe was forced to resign last November after being implicated in potentially irregular dealings with the Gupta family, according to the public protector’s state capture...
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