Eskom to borrow R4bn for diesel as Treasury dishes out tough love

The stand-off between Eskom and the National Treasury over funding for diesel has ended with an agreement that government will support Eskom borrowing from commercial banks, should it be unable to reprioritise its own resources.  In December, Eskom declared that it had run out of money to buy more diesel, having spent R12-billion, overshooting its annual budget by more than 100% – with four months to go until the end of the financial year.