Eskom CEO Bemoans Slow Pace of Talks on Cutting $27 Billion Debt
- South African power utility urgently needs cash injection
- CEO Andre de Ruyter was interviewed by The Conversation
Andre de Ruyter, chief executive officer of Eskom Holdings.
Photographer: Dwayne Senior/BloombergThis article is for subscribers only.
Talks about reducing the South African state power utility’s 402 billion-rand ($27 billion) debt to a manageable level are taking too long, its Chief Executive Officer Andre de Ruyter said.
Eskom Holdings SOC. Ltd., which produces most of South Africa’s power, can’t meet its running and debt service costs and is dependent on government handouts to keep operating. It also needs to borrow more money to help it transition away from the polluting coal-fired plants used to produce the bulk of its electricity.