2 Eskom executives quit

2014-09-24 13:47

Two of Eskom’s top executives have resigned.

Eskom’s group executive for sustainability, Steve Lennon, would leave at the end of March next year and group executive enterprise development and acting group executive of customer services, Erica Johnson, leaves at the end of October, the parastatal’s spokesperson Andrew Etzinger said today.

“Yes I can confirm that they have resigned. The reasons are personal,” he said.

Etzinger would not comment further on the resignations.

According to reports, Lennon had been the original choice for the interim position of acting chief executive at Eskom, not Collin Matjila, who is currently acting in the position.

The embattled state electricity utility has been in financial crisis and the government came up with a bailout plan to help Eskom.

The package, announced by the national treasury earlier this month, includes tariff increases and increased borrowing.

Acting Cabinet spokesperson Phumla Williams last week said the package included an injection by government of additional equity into Eskom to help the utility strengthen its balance sheet and enable it to borrow more from financial markets.

More details would be given by Finance Minister Nhlanhla Nene in his medium-term budget policy statement on October 22.

Williams at the time said other elements of the package included a strong improvement in Eskom’s operational efficiencies, which would reduce costs, and a R50 billion increase in debt raised by Eskom, which would be supported by the existing government guarantee.

The government would back Eskom’s application to the National Energy Regulator of South Africa for an adjustment to the tariff. This was in line with normal regulatory processes.

Other elements included demand management measures, refinements to energy policy, and expansion of the independent power producer programme.

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