Eskom’s government support dries up

JOHANNESBURG - Treasury wants Eskom to get its house in order and fix ailing power stations with its own money.

It briefed Parliament on Eskom's Debt Relief Bill, reiterating that the power utility may not borrow for the next three years.

READ: Eskom appoints new Generation head

The department says Eskom won't be receiving any more financial support from government and it must fund all its expenditures from tariffs raised from customers.

"We are very comfortable with the decision by National Treasury," said Martin Buys, acting Eskom CFO.

"It will actually allow us the opportunity to do more long-term planning because we can now more accurately predict how much money we'll have available."