Embattled power utility Eskom is cutting more than half of the top executive positions following a retrenchment process. It will cut a total of 12 positions, bringing the total number of senior executives, known as F-band executives, down to nine, following a Section 189 process. This was done through “regrading or combining roles”. It said this would set the utility on a course “to be cost effective, efficient and sustainable”. Eskom recently reintroduced load-shedding for the first time in more than two years. The reason lies in Eskom’s deteriorating plant capacity — measured by the energy availability factor — due to unplanned breakdowns. Eskom, which supplies most of SA’s electricity, has massed R419bn of debt over the past 10 years due to its huge capital build programme. It is now unable to pay interest costs from revenue earned and must borrow to service its debt. Interest costs over the next three years are projected to be R250bn. Overall debt is projected to rise to R600bn ...

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