South African cabinet approves rescue package for Eskom

Issue 285 - 30 Sep 2014 | 4 minute read

The cabinet has approved a seven-point plan to rescue the beleaguered state power utility, outlined in a statement issued by the National Treasury on 14 September. An equity injection by the government, support for a tariff adjustment, and backing for the raising of new debt by Eskom are all included under the scheme. The rescue package was based on recommendations from the inter-ministerial committee, and aims “to support a strong and sustainable Eskom to ensure that the energy security of the country is maintained, as well as supporting GDP growth”, according to the Treasury statement.

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