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“The principle is not so much that we recover all the money, I am sure that much of the money has been kept safe in strange jurisdictions around the world, but we understand that without holding people to account, the doors are opened to a wrestling for everyone, ”said De Ruyter.
The energy company, he said, had parted ways with no fewer than 30 top executives and managers.
“We continue to investigate and register cases to hold them accountable. The sad thing is that as a result of the state capture, an institution as important as Eskom has been largely emptied and it is not only reflected in the poor maintenance of our plants, which we are recovering. It is not only reflected in how we have handled the billing of the municipalities, but also in the systems and processes of our own culture as an organization.
“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 appreciate 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. ”
The best way to get away from taxpayer support, De Ruyter said, was for Eskom to charge profitable fees. “No company can survive by selling its product below its cost of production.” De Ruyter also announced that Eskom was on Friday on its 40th day of not burning diesel to support its system.
“This is at the same time that we took out for long-term maintenance – the so-called reliability maintenance program – 11 units, which is equivalent to two large power plants that we have taken off the grid that we now maintain. “For us to be able to keep the country lights on without using diesel while we do maintenance, I think it’s good.” He said diesel cost Eskom R10 million per hour. “It speaks to the need for us to fix Eskom’s operational integrity.”
This included making Medupi and Kusile work well, he said.
“We are making good progress on that. Now we know what are the design flaws that have affected those two plants. We have implemented modifications to four of Medupi’s units and we are now at a point where those units can operate at their maximum capacity. “
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