Seven Eskom power stations have coal stockpiles that are lower than the levels required, Parliament heard on Wednesday.Urgent authorisation had to be obtained from the Treasury to purchase more coal without having to go to tender, acting group executive for transmission Willie Majola told members of Parliament’s public enterprises committee. A recovery plan was in place and coal was also being moved from stations that had healthy stockpiles to stations that did not have sufficient stock.Eskom executives led by interim CEO Phakamani Hadebe briefed the committee on the 2016-17 financial results.Majola said part of the problem arose from Eskom being constrained in terms of capital expenditure. It had concentrated its capital expenditure on Medupi and Kusile and neglected cost-plus mines that require Eskom to invest in infrastructure such as mine shafts. This had meant that those mines had not been able to deliver the monthly tonnages to which they were committed.Gupta-owned Tegeta Expl...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.