(Bloomberg) -- The biggest labor group at South Africa’s Eskom Holdings SOC Ltd. blamed “poor leadership” for ongoing nationwide power cuts, a discordant sign as the utility embarks on a plan to become profitable again.
The National Union of Mineworkers is “very disappointed with the performance” of Eskom Chief Executive Officer Andre de Ruyter and the lack of a plan to prevent outages, it said Thursday in a statement. The group also continues to oppose the use of independent electricity producers, which Eskom is counting on to help increase generation.
South Africa could experience power shortages through at least April, presenting another threat to an economy already hampered by the effects of the coronavirus pandemic. Eskom is saddled with 464 billion rand ($31.3 billion) of debt and has been unable to provide reliable power since 2008, when outages began.
READ: Eskom Bailout Emerging as Equity Swap by Biggest Bondholder
“Eskom has regularly communicated its plan to improve the performance of the power stations and to reduce loadshedding,” the utility said in response to questions, using a local term for power cuts. There is “a good working relationship with its labor representatives, including the NUM,” it said.
The NUM, which represents about a third of Eskom’s more than 44,772-strong workforce, urged the government to change the leadership at Eskom. Relations between the labor union and management have been strained in the past over issues including wages.
The government-guaranteed tranche of Eskom 2028 debt yielded 4.7% by 12:40 p.m. in Johannesburg. They traded at 4.6% on Jan. 4, the lowest since they began trading in 2018.
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
