Eskom Energy crisis Calls for Restructuring

Eskom energy crisis ‘engineered for looting and restructuring, the South African Federation of Trade Unions (Saftu) spokesperson Trevor Shaku came out guns blazing and has charged that the Eskom energy production crisis was engineered in order to create opportunities for looting and restructuring, which were allegedly contemplated by Public Enterprise Minister Pravin Gordhan.

“Just like SAA, Eskom’s consciously engineered woes are a premise for privatization.”

“The eventual restructuring spells two things: job losses and higher prices. Restructuring and retrenchments have become synonymous, and this is because labor is a disposable factor of production. They will rather have fewer overworked laborer’s than to minimize their profits,” said Shaku.

Shaku was reacting to President Cyril Ramaphosa’s announcement this week that he has authorized a series of amendments to the Electricity Regulation Act in order to allow the IPPs to increase electricity supply to the national grid.

This means the power producers would be able to produce power without going through a long process with the energy regulator.

Read the full story on: Iol.co.za.