The Sunday Independent reports that the National Union of Mineworkers (NUM) has called for the disbanding of the Eskom board after the power utility tumbled back into load shedding last week. This came after Eskom warned that it was near collapse and its coal reserves were almost depleted. The union said the board had failed to deliver a credible turnaround plan and sustainable business model. NUM energy sector coordinator Paris Mashego claimed that the board’s 2035 strategic plan remained concealed in secrecy and he added: “We, therefore, call upon President Cyril Ramaphosa to retire the current board, which has failed to develop a comprehensive turnaround strategy to save Eskom, from unbundling and privatization.” In a tumultuous week, Eskom escalated its load shedding from stage 1 to 2, cutting off about 2,000 megawatts from the grid The utility said it could take up to six months to replenish its depleted emergency reserves, which amounted to less than a third of the acceptable one month’s worth of supply. Eskom CE Phakamani Hadebe observed that Eskom was not able to service its debt, which had risen from R40bn in 2007 to R400bn in 10 years.
Read the full original report by Sechaba ka’Nkosi at Business Report