Everyone knows our state-owned enterprises (SOEs) are dysfunctional. But there’s dysfunctionality and then there’s Eskom. Despite the constant search light on Eskom, it still thinks that shadows are available for hiding its activities. Its attempt to conceal its collusion with Tegeta, via a "private arbitration" settling Tegeta’s R2bn fine, is but this week’s instance of brazenness born of assured political protection; after all, Eskom’s former CEO, despite resigning in disgrace, has been elevated to join all the other hourables in Parliament. In any event, it is clear that Eskom is wedded to coal and that it will allow nothing to disturb this enduring love affair. Not even its polygamy, for nuclear is part of the government-approved ménage à trois. This is clearly seen in the Integrated Resource Plan (IRP) 2016, for electricity. The draft IRP has been crudely fixed to provide expensive space for nuclear. The government’s cancellation of the signing of the power purchase agreements ...

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, ProfileData 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.