Today's Labour News

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eskomBL Premium reports that President Cyril Ramaphosa said on Tuesday that SA had entered a new era of energy generation and all options, including the sale of old Eskom power stations to private investors, should be looked at by the government.  

Ramaphosa and the ANC have previously placed a blanket prohibition on the sale of any Eskom asset as this would be considered privatisation.  But as the government and its social partners look for solutions to Eskom’s debt and operational crises, Ramaphosa said their thinking "has not remained static".  During a question and answer session with journalists, he also spoke approvingly of joint efforts with labour and business to find a solution to Eskom’s debt crisis by seeking investments in Eskom debt or equity by pension funds and other savings institutions.  "A number of players have come to the fore and said that when we get to the point of decommission (of Eskom’s old coal-fired power stations), sell them to us and we can generate electricity. I’m most interested in looking at that option.  It gives workers and the communities the transition we have been talking about because the towns where those power stations are located will die when they close," Ramaphosa said.  Ramaphosa indicated that agreement by labour, business and the government on a social compact over electricity and Eskom was close to being concluded.

  • Read the full original of the report in the above regard by Carol Paton at BusinessLive (paywall access only)


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