Power utility Eskom said in a presentation yesterday that its transmission company would be operational by the first quarter of fiscal year 2025.
President Cyril Ramaphosa announced in 2019 that the debt-laden utility would be split into three divisions – generation, transmission and distribution – to improve management of a company that has relied heavily on government bailouts and frequently implements nationwide power cuts.
Eskom implemented its worst-ever power cuts this year, largely due to breakdowns in its ageing coal-fired power plants.
The government energy committee aims to bring 21000 megawatts (MW) of additional power online between 2023 and 2026. It will buy 3400 MW from neighbouring countries by 2026, Eskom said in its presentation.
Eskom interim CEO Calib Cassim said it had enough money to end this financial year without any new debt.
He said Eskom would require up to R220 billion to expand and upgrade the transmission network.
Eskom chairman Mpho Makwana.said the decision on a permanent CEO was at an advanced stage.