S&P sees Eskom debt solution as key to unlocking restructuring

Ratings agency S&P Global Ratings sees finding a solution to Eskom’s unsustainable debt position as potentially key to meeting the timelines proposed for the broader restructuring of the State-owned utility into three units of generation, transmission and distribution – an unbundling that is also viewed as necessary for reforming South Africa’s electricity supply industry and attracting much-needed private generation investment. Speaking during a virtual update on South Africa on Tuesday, corporate ratings director Omega Collocott said the restructuring was progressing “slowly”, but had been negatively affected by the disruptions associated with the Covid-19 pandemic as well as operational difficulties that had resulted in recent bouts of rotational power cuts.
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Eskom board to initiate probe into racism allegations against De Ruyter

The Eskom board has resolved to initiate an investigation into an allegation of racism made against CEO André de Ruyter, indicating in a statement that an independent senior counsel would be appointed to conduct the probe. The counsel, the board said, would be empowered to interview any person who might be of assistance and could consider any evidence.
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