Eskom technically insolvent

Public enterprises says Eskom will go bust by April unless it gets a capital injection. Courtesy #DStv403

CAPE TOWN – The Department of Public Enterprises says Eskom is technically insolvent and will cease to exist at the current trajectory by April 2019.

In his State of the Nation Address last week, President Cyril Ramaphosa announced plans to split the struggling power utility into three entities.

Eskom’s has been pleading with energy regulator, Nersa for a 15% annual tariff increase for the next three years.

Debt at the power utility which stood at R380-billion at the beginning of last year has since ballooned to over R419-billion.
 

Source
eNCA