The utility regularly receives financial bailouts from the government. Nyati says this will soon end because Eskom will be able to stand on its own feet.
“We are saving from last year. Already in this financial year which started on April 1, we have saved R10bn on last year,” he said.
Nyati said the National Treasury had helped Eskom to reduce its debt, which meant the interest repayments had reduced.
“So we are saving on the interest, there’s a saving on diesel and on the top line revenue has increased because [there is] no load-shedding. A combination of those things should get us very quickly to a position where Eskom is profitable,” Nyati said.
In this episode of Sunday Times Politics Weekly, Nyati talks to our digital politics editor Lizeka Tandwa about the importance of the leadership change at the company, which included appointing an engineer, Dan Marokane, as CEO, and the executives’ relationship with him.
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The podcast is hosted by Sunday Times digital politics editor Lizeka Tandwa and produced by Bulelani Nonyukela.
Sunday Times Politics Weekly
LISTEN | How we saved Eskom from collapse: Mteto Nyati
The Eskom chair shares the formula used to rescue the utility
A few months ago Eskom was the black sheep of public opinion, but last month we reported that the utility recorded its highest energy generation levels in six years.
It’s not out of the woods yet — but chair Mteto Nyati says they will execute the outstanding aspects of the recovery plan.
Nyati shares the formula used to rescue the state-owned enterprise from the brink of collapse. Two years ago the president roped him in to help save the power utility. Nyati speaks about the plans Eskom implemented to get to where there is no load-shedding for at least 160 consecutive days, the longest in a while. However, he is reluctant to say load-shedding has ended: “There is science behind it ... the end of load-shedding is near.”
The utility regularly receives financial bailouts from the government. Nyati says this will soon end because Eskom will be able to stand on its own feet.
“We are saving from last year. Already in this financial year which started on April 1, we have saved R10bn on last year,” he said.
Nyati said the National Treasury had helped Eskom to reduce its debt, which meant the interest repayments had reduced.
“So we are saving on the interest, there’s a saving on diesel and on the top line revenue has increased because [there is] no load-shedding. A combination of those things should get us very quickly to a position where Eskom is profitable,” Nyati said.
In this episode of Sunday Times Politics Weekly, Nyati talks to our digital politics editor Lizeka Tandwa about the importance of the leadership change at the company, which included appointing an engineer, Dan Marokane, as CEO, and the executives’ relationship with him.
Listen and share your views. Join thousands of our subscribers and follow our podcast on your favourite podcast app.
For more episodes, click here.
Subscribe for free episodes: iono.fm | Spotify | Apple Podcast | Pocket Casts | Player.fm
The podcast is hosted by Sunday Times digital politics editor Lizeka Tandwa and produced by Bulelani Nonyukela.
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