File
The government will be providing debt relief to embattled power utility Eskom amounting to R254 billion over the medium term, as the country experienced more power cuts in the year to September than in the whole of 2022.
But, the Finance Minister, Enoch Godongwana, said the allocations would be accompanied by strict
conditions to ensure public funds are used for their intended purpose.
He tabled the Eskom Debt Relief Amendment Bill on Wednesday during his medium-term budget policy statement, which he said "seeks to enhance the enforceability of the conditions agreed under the debt relief agreement."
"Our electricity system is undergoing an enormously positive transformation. We are reaping the fruits of our efforts to reform the electricity sector, including the easing of restrictions on self-generation and encouraging private investment in the area," he said.
Godongwana said the government's electricity reforms were holistic, evidenced-based, and geared to find a balanced solution to our electricity supply challenges.
"They take into account not just a particular entity but the transformation of the sector as a whole. As part of this approach, the review of Eskom’s coal-fired power stations commissioned by the National Treasury is complete."
