DUMA GQUBULE: Wage bill not the main cause of Eskom’s financial woes
Primary energy costs, net finance costs and depreciation and amortisation costs to blame
25 November 2019 - 16:03
Let me try this again. There are two major reasons why Eskom has failed. First, as energy expert Mike Roussouw said recently in an interview with television station eNCA, the government refused to allow Eskom to build new power stations in 1998 because it had decided to bring in independent power producers. But it failed to do so.
So, there was a period of more than five years when there was no build. When demand started exceeding supply, as the economy grew faster from 2004, the government turned to Eskom in a rush...
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