President's task team pushing for speedy unbundling of Eskom
'We first need to improve the operational performance of Eskom, deal with the separation of the businesses and then as we go along we look at all of those things'
The task team set up by President Cyril Ramaphosa to resolve Eskom's problems is pushing the utility to meet tight deadlines for its unbundling while it grapples with deep-seated operational issues. Thuto Shomang, the acting director-general of the department of public enterprises, said on Friday at an Absa post-budget breakfast that Eskom had been working on its own restructuring plan since Phakamani Hadebe's appointment as CEO in May last year. This plan had already proposed a functional unbundling in two years and a three- to five-year period for a legal unbundling. But the sustainability task team appointed by the president in December last year has pushed for earlier timelines. The Budget Review this week made specific mention of separating out transmission as a subsidiary within four months and bringing in strategic equity partners. But Shomang said it would be difficult to take definitive steps around equity investors for Eskom now. "The thing is we first need to improve the ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.