How the Eskom crisis (now in its 12th year) became an existential threat to SA

Eskom is an utter disaster; financially and operationally, said George Glynos, Head of Research at ETM Analytics on Tuesday.

The deeper you look into what’s going wrong operationally, he said, the greater the clarity in understanding how the crisis at the utility got to this point.

South Africa is currently at stage three load shedding.

On Monday, in a bid to save the grid from total collapse, Eskom shed the biggest load since it started doing so in January 2008.

Eskom wants the National Energy Regulator of South Africa to grant it a 15% increase in electricity prices in each of the next three years.

Eskom reported electricity sales of 212 190 gigawatt hours for the year ending March 2018 – the lowest annual total since 2003.

South Africans are responding to price hikes and load shedding by adopting alternative power sources such as gas and solar panels, resulting in rapidly reducing demand for electricity from Eskom.

The Money Show’s Bruce Whitfield interviewed Glynos.

Listen to the interview in the audio below (and scroll down for quotes from it).

Total disgust… massive frustration! Once again, taxpayers being disrespected… Why we put up with this mediocrity… We’re still waiting for anyone to face the music for what they have done…

George Glynos, Head of Research - ETM Analytics

Until we change the ultimate culture of this government and the ideologies that rest within the ANC I suspect we’re going to be dealing with these issues for many years to come.

George Glynos, Head of Research - ETM Analytics

We continue to tiptoe to an IMF bailout…

George Glynos, Head of Research - ETM Analytics

It’s a flawed ideology that Government needs a role in everything strategic in this country…. There are companies that are better skilled… Yet, we choose to crowd them out…

George Glynos, Head of Research - ETM Analytics

Nationalising state assets has been a disaster… There are so many examples…

George Glynos, Head of Research - ETM Analytics

Prioritising 10 000 workers that may need to be laid off at Eskom… this economy can easily add 50 000 jobs in a quarter if the environment was stable…

George Glynos, Head of Research - ETM Analytics

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