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Hadebe ‘very happy’ with unbundling of Eskom

Cyril Ramaphosa made the announcement in his State of the Nation Address (Sona) on Thursday night saying the utility will be broken up into three separate entities.

Eskom CEO Phakamani Hadebe reacts to President Cyril Ramaphosa's State of the Nation Address at Parliament in Cape Town on 7 February 2019. Picture: Christa Eybers/EWN

CAPE TOWN - Eskom chief executive Phakamani Hadebe says the utility is “very happy” with President Cyril Ramaphosa’s announcement that the company will be unbundled.

Ramaphosa made the announcement in his State of the Nation Address (Sona) on Thursday night, saying the utility will be broken up into three separate entities.

The turnaround plan for the struggling power utility has been a topic of much speculation in the run-up to Sona.

During his address, the president announced a major unbundling, something Hadebe sees as a ringing endorsement of the leadership teams strategy.

“The endorsement by the president is very positive, but it’s not just the endorsement but about how the president came forth in indicating that they will take a lead in ensuring that engagement does take place with stakeholders like trade unions.”

WATCH: 'The Government took leadership': Eskom CEO

The power utility will have to increase revenue through affordable tariff increases and exercise strict control over costs.

Hadebe says Eskom’s balance sheet is one of the key areas which will require government assistance.

Unions have sounded warnings that they will not accept job losses as a result of the plan and Hadebe has assured workers management will be engaging with unions on the matter.

WATCH: Politicians react to Sona 2019

President Cyril Ramaphosa&#... by on Scribd

(Edited by Mihlali Ntsabo)

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