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Govt must intervene in Eskom’s corporate governance – ANC

SABC News Load shedding R - Govt must intervene in Eskom’s corporate governance – ANC

The African National Congress (ANC) says government needs to address corporate governance issues at Eskom, to help avoid load-shedding issues in future. It has described as unfortunate Eskom’s decision to conduct load shedding ahead of a review by credit ratings agency, Moody’s.

Eskom is continuing with Stage 2 load shedding, which is expected to go on for the rest of the week. Stage 2 requires Eskom to cut 2 000 megawatts of power across the country on a rotational basis.

The power utility says the power outages are due to high levels of unplanned breakdowns and a shortage of capacity.

ANC spokesperson, Dakota Legoete, says the ratings agency has in the past raised the issue of electricity as a factor that contributes to a weakened economy.

“It is just unfortunate that these things are happening on the eve of our assessment by the ratings agencies and it has been clear in the past that ratings agencies raise the issue of electricity as one of the things that weakens the economy of the country. I think government will have to do their best in engaging Eskom matters and corporate governance being resolved.

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