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“Rebuilding the spirit that made Eskom the world’s leading utility company in 2001 is a mountain we have to climb,” he said.
Political leadership must also be held accountable, De Ruyter said.
He said he had not experienced any political interference, particularly from the minister of public enterprises, Pravin Gordhan.
“I think I have been given the freedom to do what I think is best from a business perspective, together with the Eskom board.
“They don’t pressure me to award a contract to a particular supplier. They don’t pressure me to appoint particular people to specific positions, and I think that is crucial to restoring trust. “
With Eskom’s gross debt approaching half a trillion rand, De Ruyter said the utility represented a systemic risk to the country’s economy.
“We need to find a way to make Eskom financially sustainable and that is a challenge we are now committed to.
“We are grateful for the fiscal support we receive from the National Treasury. Until 2026, we anticipate that we will receive around R121bn. The sad part about this fiscal support is that it is money that is diverted from other key national priorities. We need to get rid of taxpayer support as soon as possible. “
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