Eskom said under its previous management there was major underspending on maintenance which has resulted in load shedding.
Eskom’s top executives and Public Enterprises Minister Pravin Gordhan have briefed the media in Rosebank and said they faced a huge challenge to overcome the crisis.
The country has been battling stage four load shedding. Eskom board chair Jabu Mabuza said most coal power stations normally only produce sufficient electricity for 30 years. In South Africa they were expected to deliver power, despite being up to 50 years old.
Mabuza said the money which was meant to be spent on maintenance was not used.
“This was not money that was sitting in a vault somewhere at Eskom. It’s clear when looking at the financials over the past five years the maintenance was in a reduction sense.”
Gordhan blamed state capture and mismanagement for Eskom’s problems.
“There is still a lot of accountability that needs to take place.”
While there was no clarity on when load shedding would end, Gordhan said a team of technicians would provide answers after a 10-day investigation.
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