Eskom bailouts should shed taxpayers’ load

Business

Eskom bailouts should shed taxpayers’ load

It is galling that despite having put us in this sticky situation, the SOE enjoys limitless finance for bailouts

Gray Maguire

Over the next few days the National Energy Regulator of SA (Nersa) is due to release a consultation paper on energy minister Gwede Mantashe’s two-section 34 ministerial determinations.

The first of these is for the procurement of emergency power that can be “grid-connected in the shortest time at the least possible cost”. The second is to initiate the procurement of longer-term electricity supply in line with the Integrated Resources Plan (IRP 2019). Many South Africans will be breathing a sigh of relief, optimistic that a solution to the scourge of load-shedding is in sight.

Given that 2019 was the worst year in SA’s history for load-shedding, it was no surprise when the Treasury announced our economy had entered a recession. With this dismal economic performance, it was also no surprise that the preceding week’s budget speech was going to be contentious...

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