WORLDVIEW: It’s time to let Eskom die with dignity

Eskom is insolvent. It does not generate enough income to pay the interest and principal on its debts. It is unable to provide enough electricity to meet demand. Various proposed rescue plans have failed – not in their implementation, but rather, they have failed to be implemented at all.

The utility has been thoroughly looted, and the looting continues. The dodgy deals made in Eskom's procurement chain remain on the books. The disastrous power station projects Kusile and Medupi grind on. Eskom is overstaffed, and the unions are refusing to consider retrenchments, meaning that every month workers are being paid unnecessarily – it is clear this situation is allowed to continue because of the political influence of the trade unions. Those who have sucked the cash out of Eskom continue to do so.

It's becoming increasingly clear that the government is not able to solve the problems at Eskom. Some elements of the government have admitted as much – Minerals and Energy Minister Gwede Mantashe announced at the Mining Indaba that miners would be allowed to generate their own power, a tacit admission that Eskom will never be able to meet their needs. Eskom has failed, utterly.

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