PETER BRUCE: Let private sector in as De Ruyter tries riding Eskom into the sunset
The end game hinges on the CEO and management being good enough to guide the power utility to a soft landing
Now that Eskom’s two big unions, the National Union of Mineworkers (NUM) and the National Union of Metalworkers of SA (Numsa), have accepted Eskom’s generous and probably unaffordable offer of a 7% pay hike, we can probably expect our immediate power crisis to subside a little. But don’t get comfortable.
There are two immediate worries. The first is that yet more damage has been done to a tottering economy, our reputation as an investment destination and, without doubt, to Eskom’s rapidly diminishing capacity to produce electricity. A few days ago indefatigable energy analyst Chris Yelland produced a report that, among its many virtues, contained a graphic showing just how rapidly Eskom’s fleet is failing...
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