Eskom Tells Senior Managers Unit Separation To Take 3-5 years

Electrical power lines hang from transmission pylons near to the Eskom Holdings SOC Ltd. Lethabo coal-fired power station in Vereeniging, South Africa, on Wednesday, Aug. 7, 2019. Eskom, South Africa’s biggest polluter, said emissions of particulate matter that cause chronic respiratory disease are at their highest level in two decades as the state power utility’s financial meltdown has seen it skip maintenance and has triggered strikes. , Bloomberg

Antony Sguazzin, Bloomberg News

Aug 23, 2019

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(Bloomberg) -- Eskom Holdings SOC Ltd. told senior manager that it sees the company being split into generation, transmission and distribution units within three to five years.

The company nearly collapsed “multiple times” in 2019 due to a lack of cash and only exists because of its importance to South Africa, according to a presentation seen by Bloomberg and confirmed by the chairman’s chief of staff.

To contact the reporter on this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net

To contact the editors responsible for this story: John McCorry at jmccorry@bloomberg.net, Andre Janse van Vuuren

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