Eskom

According to Eskom, ABB South Africa owes R1 billion due to overpayments on the Kusile power station construction.Tenova Mining and Minerals owes R735 million, Eskom says, while Tubular Construction Projects owes R1 billion.Stefanutti Stocks Basil Read JV and Stefanutti Stocks Izazi JV owe R1 billion, according to the power utility.Construction companies ABB South Africa, Stefanutti Stocks and…

Nersa's Nhlanhla Gumede said a decline in electricity demand among electricity reliant industries shows power costs were still at the centre of South Africa's economic troubles.Stats SA's report says the mining and quarrying industry decreased by 21.5% in the first quarter while the manufacturing industry contracted by 8.5% over the same period.Stats SA released GDP…

Eskom has been implementing load reduction in a number of areas in Gauteng. Two Eskom employees were kidnapped on Sunday and forced to restore illegal connections in Ekurhuleni.Eskom has been implementing load reduction in parts of Gauteng owing to illegal connections and meter bypasses.The power utility said it would be pressing charges.Eskom employees were on…

Eskom CEO Andre de Ruyter in January, 2020. Gallo Images/Business Day/Freddy Mavunda Restructuring power utility Eskom will be critical in making it attractive for private investment in future, says CEO André De Ruyter.In an interview on Fin24 editor Ron Derby on Monday, De Ruyter discussed what he learnt in the six months that he has…

4m ago De Ruyter says Eskom is also looking to reduce procurement costs - primary energy costs.Power stations are normally built near coal mines, but as the life of the station progresses coal is exported elsewhere over long distances which carries costs. Coal also becomes more expensive to extract. The world of international coal exports has…