MunicipalNews

Eskom financially crippled

Eskom is days away from going broke.

Load shedding could be revived again next week due to financial instability, Moneyweb reported.

Tshediso Matona, Chief Executive Officer for Eskom told stakeholders that one unexpected event at any of its power stations could push the country to a total failure of the national electricity system that may take weeks to resolve.

Mail & Guardian reported last week that Eskom is days away from going broke, which was confirmed by Lynne Brown, minister of public enterprises.

She mentioned the only options would be in the form of a government bailout, such as a cash injection or severe load shedding.

In the interim Eskom is still urging consumers to continue switching off all non-essential appliances throughout the day to reduce electricity demand.

Although Eskom said that they will not be load shedding this week they will publish load shedding schedules when it becomes necessary to do so.

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