Featured image: Stock

A Presidential Cabinet Committee on Eskom has been formed to brief President Cyril Ramaphosa on a daily basis on progress made to resolve the challenges at the power utility.

“This committee will deal with matters of Eskom daily and deliver daily reports to the President on what actions need to be taken to secure energy supply,” reads part of a statement from Cabinet.

The Cabinet Committee will be led by Deputy President David Mabuza and comprises the Ministers of Public Enterprises, Energy, Finance, Transport, Intelligence and Police.

“The team is expected to meet with all stakeholders to help restore stability to the grid and chart a way forward whilst ensuring that there is minimal economic cost to the consumer and taxpayers,” said Cabinet, which met last week.

Public Enterprises Minister Pravin Gordan briefed the Cabinet meeting on the recent nation-wide loadshedding that has had a big impact on the economy across the country.

“South Africa’s energy supply remains an absolute imperative and the current situation at Eskom poses significant risks to the country, its financial stability and the economy. Read more: “Eskom is in a crisis”. Understatement of the year!

“The strategic unbundling of Eskom into three separate wholly state owned entities – generation; transmission and distribution – is required for the long-term sustainability of the power utility and the country,” said Cabinet.

Eskom allegations link to Motsepe

There has been speculation that businessman Patrice Motsepe, the founder of African Rainbow Energy and Power stands to benefit from the unbundling of Eskom.

Motsepe who is a bother to two sisters who are married to President Ramaphosa as well as energy minister Jeff Radebe – is expected to brief the media this morning regarding the allegations.

Critics say Ramaphosa rushed to sign the Independent Power Producers agreements, all in a bid to support Motsepe, however Ramaphosa has rejected the allegations.