‘Eskom is not for sale’

The power utility says there’s no plan to sell a 49% stake of the parastatal to the private sector.

FILE. The utility's Khulu Phasiwe says Eskom is not for sale. Picture: Reinart Toerien/EWN

JOHANNESBURG - Eskom says there is no plan to sell a stake of the parastatal to the private sector.

The Times newspaper is reporting that Finance Minister Pravin Gordhan has suggested there'd be huge interest if 49 percent of Eskom was offered to the private sector.

The utility is facing a number of financial challenges and has approached the National Energy Regulator of South Africa (Nersa) to increase tariffs in order to recover R22.8 billion.

The Finance Department has refused to comment on reports that Gordhan argued that 49 percent of Eskom should be sold to private shareholders during a meeting last week.

The utility's Khulu Phasiwe says Eskom is not for sale.

"We have not received any directive from our shareholder, which is the Department of Public Enterprises, to say that there's any intention to sell any stake within Eskom."

Meanwhile businesses will continue presenting their arguments at public hearings in Midrand today into Eskom's application for a 16.6 percent tariff hike.