Freeze Eskom’s ‘disgusting’ executive pay: DA

The Democratic Alliance (DA) has called on executive pay at Eskom to be frozen at its current level until the power utility has overcome its supply shortage.

The political party noted that Eskom paid its top executives a total of R60 million in the 2014 financial year, up from R57.4 million the year before.

With nine members on Eskom’s executive committee, it is shocking that R24.4 million was paid to three individuals:  The CEO, the financial director and the operations director, the DA said.

The CEO took home a pay package of R15.4 million which is the highest salary paid by the company ever. His 2013 salary was R8.5 million.

“It is disgusting that Eskom executives are being paid record salaries as the country has to face disruptive load shedding,” said Natasha Michael, DA shadow minister of public enterprises.

“In any private sector environment, someone who oversees such a monumental failure would be fired but at Eskom the salaries just keep going up and up no matter the performance of the organisation.”

“I will today write a letter to Minister of Public Enterprises, Lynne Brown, urging her to impose a moratorium on pay hikes for the exorbitant pay enjoyed by Eskom’s clearly failing executives,” the DA lead said.

Eskom warned that its system will remain constrained on Wednesday and Thursday following a crack in the coal storage silo at the Majuba power station in Mpumalanga on Saturday, which later collapsed.

The state owned company enforced load shedding on Sunday, following the incident in Mpumalanga.

More on Eskom

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Freeze Eskom’s ‘disgusting’ executive pay: DA