Neil de Beer says Eskom’s failure will destroy the poor and vulnerable. Image: Supplied
Eskom’s failure will DESTROY the poor and vulnerable
Neil de Beer says Eskom’s failure will destroy the poor and vulnerable.
Neil de Beer says Eskom’s failure will destroy the poor and vulnerable. Image: Supplied
The undeniable failure of the beleaguered state utility Eskom, will not affect the wealthy as much as it will destroy the already poor and vulnerable.
ESKOM’S FAILURE WILL DESTROY POOR AND VULNERABLE, NOT THE RICH
“It’s evident that this failure of Eskom will not affect the wealthy as much but will destroy the already poor and vulnerable.
“The rich will buy bigger generators, and that is a fact,”
said Neil de Beer, African Geo and head of the IFA Invest Fund Africa group.
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THE RICH WILL BUY BIGGER GENERATORS
“I say this without frowning at the rich, who will buy bigger generators, but stating the bleak facts,” said De Beer.
The National Energy Regulator of South Africa (NERSA) on Thursday, 12 January 2023, approved an 18% power price rise for Eskom for the financial year starting 1 April 2023 and a 12% tariff increase for the following year.
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Eskom has sought an increase of more than 32%, citing the higher fuel cost, depreciation of its generation assets, and higher procurement from independent power producers.
‘TARIFF INCREASE IS UNACCEPTABLE’
De Beer said the tariff increase of 18% is unacceptable but did not come as a surprise.
He said it was weird that they announced the tariff increase while “the majority of us were under stage 6 load shedding”.
He said the poor and vulnerable are already suffering, and the continuous failure of Eskom will eventually destroy them.
“Eskom cannot be saved from its final lights off switch.
“Having more than R400 billion debt and increasing, a failing infrastructure, a loss of senior management and total incapability to stop load shedding, no doubt the country cannot be blamed for reaching its final hope or patience with the state.”
Neil de Beer
THE SOUTH AFRICAN ECONOMY NEEDS SUBSTANTIAL FOREIGN INVESTMENT
Taking a swipe at President Cyril Ramaphosa, he said: “Again Cyril Ramaphosa, makes the now known RA-RA speeches of intervention, war rooms, and committees, this coming from a man whom a few years ago, promised that in two years, load shedding would be in the past. Well, Cyril?”
De Beer said South Africa and its economy needs substantial foreign direct investment (FDI), but without guarantee of uninterrupted power supply to these would-be investors is making things worse.
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“It is clear that the government has scored huge own goals as good as the man who switches us off for load shedding.
He said South Africa needs to think out of the box and put mass investment into green energy. A massive release of red tape and drastic action is all that can save the country.
“We cannot fear the sharpening of pencils at Eskom, the scaling down of an overstaffed Eskom, and more than that, we must not fear to take action to make this happen,” he added.
“Should this not come naturally from the state and the failed Eskom, we the people will have to consider taking this energy Kabaal to court and once and for all force the liberty and freedom for all to generate our power and face this Eskom horror,” de Beer said.
