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No quick fix to Eskom's problems, says CEO

Eskom CEO Phakamani Hadebe says that 2018 has been a challenging year for the power utility and the clean-up process has been time-consuming, but necessary.

FILE: Eskom CEO Phakamani Hadebe. Picture: Christa Eybers/EWN

CAPE TOWN - Eskom says there's no quick fix to dealing with its myriad of problems following years of corruption.

But it remains optimistic that with time, it can get on top of its challenges.

The company's executive told Parliament's Public Enterprises committee that despite its low coal reserves, there will be no load shedding in the near future, and reports to this effect are as a result of miscommunication.

Eskom CEO Phakamani Hadebe says that 2018 has been a challenging year for the power utility and the clean-up process has been time-consuming, but necessary.

“We need to clean up this place, we need to stabilise it and we need to set Eskom for future growth.”

However, Hadebe says there have been improvements, including improved liquidity.

Until recently, operational performance was also on the up.

He says the company is expected to be under continued pressure as it transitions to a financially sustainable entity.

"We are still expected to take resolute, tough and decisive decisions."

Hadebe says a new corporate plan is still under discussion by the board and the minister of Public Enterprises and will be brought before Parliament early in the new year.

(Edited by Mihlali Ntsabo)

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