Thread by @chrisyelland

Yesterday 22 Aug 2019, @Eskom_SA acting CEO Jabu Mabuza presented a document, apparently prepared by Boston Consulting Group, to the Eskom Executive Forum, a group of about 600 Eskom E & F band managers & executives, detailing the company's vision & strategy for the future.

@Eskom_SA The document presented by Eskom acting CEO Jabu Mabuza says that @Eskom_SA is in a utility death spiral with an outdated business model, with operational and structural inefficiencies, and a lack of transparency, in a rapidly changing in energy landscape.

@Eskom_SA The document presented by acting Eskom CEO Jabu Mabuza says that @Eskom_SA ran out of cash and came close to complete collapse on multiple occasions in 2019, and that if nothing is done, Eskom will collapse and bring down South Africa.

@Eskom_SA Eskom presents a turnaround plan based on:
1. Debt relief (govt support & debt restructuring)
2. Revenue management (price increases & better collection)
3. Cost initiatives (cost cutting)
4. Business separation (G, T & D)
5. Operational stability (improved EAF & supply security)

@Eskom_SA Eskom presents a 3-step restructuring plan with 5-year timeline:
1. Functional ring-fencing, into Gx, Tx & Dx units.
2. Legal separation of Gx, Tx & Dx units into subsidiary companies of Eskom Holdings.
3. Tx carved out of Eskom into a separate state-owned company (ISMO or ITSMO)

@Eskom_SA Acting @Eskom_SA CEO Jabu Mabuza calls on approx 600 Eskom E & F band managers & executives of the Executive Forum to provide & show:
1. Buy-in
2. Input
3. Commitment & leadership
4. Rigorous, disciplined execution
5. Tangible results
6. Clear & consistent messaging

@Eskom_SA From the vision & strategy document presented by Jabu Mabuza, it is clear Eskom sees itself in the future as an electricity generation & distribution company, and not a transmission company, which would be carved out of Eskom into an independent grid company (ISMO or ITSMO).

@Eskom_SA From the vision & strategy document presented by Jabu Mabuza, Eskom looks to future growth through:
1. Lower carbon energy mix
2. Renewables player
3. Electric vehicles & e-mobility
4. Energy storage
5. Micro and mini-grids
6. New electricity customers
7. Smart grids expansion

@Eskom_SA See the full vision and strategy document presented yesterday by acting Eskom CEO Jabu Mabuza to the Eskom Executive Forum, a group of about 600 Eskom E & F band managers & executives:
bit.ly/31W8fl2

@Eskom_SA Following the presentation to the Eskom Executive Forum yesterday by acting Eskom CEO Jabu Mabuza, today Eskom met with organised labour unions @NUM_Media, @Numsa_Media & @solidariteit to "strengthen relations" and share Eskom's vision and turnaround strategy.

@Eskom_SA @NUM_Media @Numsa_Media @solidariteit Eskom says the meeting with organised labour today kick-starts discussions on Eskom’s vision and turnaround strategy for the future, and will be followed by discussions with other stakeholders.