Ratings agency expects diesel and wages to push Eskom loan up by R45bn

Indebted power utility Eskom may need to borrow an extra R45bn to purchase diesel and pay inflation-beating salaries to workers, according to S&P Global Ratings.

SA is Africa’s most industrialised nation and has had to endure hours of outages in the past few weeks as labour strife and breakdowns at coal-fired plants forced Eskom to resort to rolling blackouts. The elevated use of diesel-fed turbines, the wage deal and a tariff increase that didn’t meet the company’s requirement left the utility with a bigger-than-anticipated hole in its finances.

Eskom may need to borrow R45bn more than forecast to purchase diesel and pay salaries, says S&P Global Ratings. Picture: BLOOMBERG

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Source: BusinessTechSA - 🏆 24. / 61 Read more »