The sale of Medupi and Kusile, Eskom's newest power stations, could still be on the cards if other funding options for the cash- strapped power utility fall short. Eskom's CFO, Calib Cassim, said on Thursday: "We've considered this in the past. We've done all the work. It didn't make economic sense [then] and at the moment it's not on the cards for us." But, he added, selling them could be revisited when the power stations are complete. Cassim said selling Medupi or Kusile was not feasible until they were completed, otherwise Eskom risked selling them "at such a discount. Once you sell it to whichever party, you would then have to get a back-to-back agreement over the next 50 years at probably a rate that is much higher to the end consumer. At this point in time, our focus is Eskom completes its work [and] at a later stage reassess this as an option." Eskom has a revenue shortfall of R120bn over three years. Cassim said Eskom was considering domestic and foreign funding, which inclu...

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, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.