Thread by @chrisyelland

After engaging with @Eskom_SA for 2 weeks since its annual financial results on 30 Jul, the best I can extract from Eskom on the latest estimated cost to completion (CTC) for Medupi & Kusile, including flue gas desulphurisation (FGD) & interest during construction, is:

@Eskom_SA Medupi:
Approved budget CTC exc FGD & IDC: R145bn
FGD: R38,7bn
IDC: R43,7
Total Medupi CTC: R227,4bn

Kusile:
Approved budget CTC inc FGD, exc IDC: R161bn
IDC: R62,8bn
Total Kusile CTC: R223,8bn

Total Medupi + Kusile: R451,2bn

@Eskom_SA Strange to note: Despite the unauthorised expenditure, maladministration & corruption, & the design, execution & construction problems revealed of late, the basic approved budget CTCs for both Medupi & Kusile remain unchanged from that disclosed in Eskom's 2016/17 financials.

@Eskom_SA CORRECTION: The latest basic approved budget CTC of both M and K (i.e. R145bn + R161bn) has not changed since disclosed on page 141 of Eskom 2015/16 financials (not the 2016/17 financials as previously stated), despite all the issues at M and K since then.

@Eskom_SA History of cost overruns i.e. Eskom board approved cost-to-completion (CTC) at Medupi for 6 units excluding FGD & IDC:

Apr 2007: R69,1bn:
Sep 2008: R88,5bn
Sep 2009: R87,5bn
Jun 2011: R91,2bn
May 2013: R105bn
July 2016: R145bn
Aug 2019: R145bn: Latest CTC excluding FGD and IDC

@Eskom_SA History of cost overruns at Kusile i.e. Eskom board approved cost-to-completion (CTC) at Kusile for 6 units, inc FGD & exc IDC:

Apr 2007: R80,6-billion:
May 2013: R118,5-billion:
July 2016: R161,4-billion:
Aug 2019: R161: Latest CTC inc FGD & exc IDC