Crisis-hit power utility Eskom is expected to publish its financial results on Monday, with analysts expecting the company’s many skeletons to tumble out of the proverbial closet in the numbers.<\/p>\n
Energy expert, Ted Blom, says South Africans should prepare themselves for the worst, anticipating tens of billions of rands lost to corruption, overspending, over-staffing and overvaluation.<\/p>\n
According to Blom, Eskom has, over the past 10 years, perfected the highly lucrative art of “crying wolf” – a tariff raising strategy which has enabled the SOE to fleece the South African economy of some R1.3 trillion.<\/p>\n
“For Eskom, this has been highly rewarding gameplay, but finally the public and Nersa have woken to this trick,” he said.<\/p>\n
“If the government or president Ramaphosa are serious about slaying corruption, then this is where the investigation needs to begin.”<\/p>\n
The energy expert listed 10 things that South Africans should look out for in Eskom’s results:<\/p>\n
Blom predicted in 2013 that Eskom would collapse in 2018 due to the above ‘skeletons’ which have been hiding in plain view.<\/p>\n
He said that a good way to start turning things around would be to clean up Eskom, and bring electricity prices down below 40 cents per kilowatt hour – a 50% reduction.<\/p>\n
“This will spearhead the South African economy and job growth. A reduction in the price of energy from an efficient Eskom will bring extensive financial relief to both the state and citizens,” he said.<\/p>\n