There is no demand crisis-Eskom - CNBC Africa

There is no demand crisis-Eskom

Southern Africa

by Aviwe Mtila 0

Eskom maintains that no bonuses have been paid to their executives in the last two years. Photo: Wikipedia

South Africa’s electricity utility, Eskom, blasted energy expert, Chris Yelland, about a recent article he wrote on Eskom’s demand crisis. Addressing the Quarterly System Status Briefing, Eskom’s CEO, Brian Molefe, said on average, demand has been the same between August and October compared to 2013, 2014 and 2015.

“We do not have a demand crisis and your article you published over the weekend is way off the mark,” says Molefe.

Yelland in his article argued "we should take little comfort that load shedding has stopped when electricity demand in 2015 is some 5 per cent less than in 2014, and about 10 per centlower than it was in 2007.

Yelland’s view is supported in another article by investor and stock-market researcher, Dwayne van Vuuren, which says electricity demand has plummeted, revealing data from Stats SA that shows a 9.8 per cent decrease in demand since 2008.

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Graph first published on http://voices.news24.com/ 

Eskom, whose executives have been lambasted by the media for receiving exorbitant salaries, maintains that no bonuses have been paid to their executives in the last two years. The power utility says the records of bonuses are available.

“I don’t understand the gripe by AgriSA that we are refusing to disclose bonuses, it’s in the annual report. No bonuses have been paid to the executives in the last two years,” says Molefe.

The power utility says it plans to meet the country’s electricity demand 100 per cent of the time throughout the summer. It says it only plans to implement stage one load shedding when demand increases beyond available capacity.

Molefe, said it will be carrying out maintenance in various parts of the country throughout the festive holidays.

“We will have a maintenance festival during December, which is not a load shedding festival but maintenance,” says Molefe.

Eskom says it will be sitting on R15 billion cash balance at the end of the year.

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