Founded by the parliamentary Electricity Act of 1992, the utility company changed its name by combining two acronyms from its previous name ESCOM and EVKOM in 1987 to become known as Eskom.
It was named the world’s best power company in 2001 by the Financial Times. However, the power utility this week reached its 100th mark under the worst energy crisis the country has ever had to go through.
The Utility has had 14 leaders since 2007, with the recent CEO Andre de Ruyter leaving in a huff after a dismissal following an explosive interview he had with a local TV channel.
De Ruyter’s interview put the spanner on the wheel of the failing power utility when he alleged that senior ministers are involved in the corruption at Eskom, without giving further details.
Opposition parties, public service unions, ordinary South Africans including the ANC have lambasted de Ruyter and have called for him to lay criminal charges against those he is accusing.
Conditions continue to be unfavourable for South Africans , as the Energy Regulator, Nersa approved an 18.65% increase in electricity prices demanded by Eskom for the 2023/4 financial year. This is expected to come into effect from 1 April.
While South African businesses and households are reeling because of Stage 3 to Stage 6 loadshedding, meaning there are days where they are without electricity for up to 12 hours, the Eskom board has appointed Calib Cassim as interim group CEO until further notice.
But there are no clear indications as yet, as to what the plans are to put an end to the rolling blackouts that are crippling the country’s economy and growth.
