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Chris Yelland
@chrisyelland
, 5 tweets, 5 min read Read on Twitter
I am disturbed by misinformed, outdated & wrong figures of the cost to completion (CTC) for Medupi & Kusile put out by SCOPA chairperson Kmhuleko Hlengwa on @Radio702 to @JoanneGJoseph. He said CTC was R146bn & R161bn for Medupi & Kusile respectively. These figures are wrong.
@Radio702 @JoanneGJoseph The CTC figures put out by SCOPA chairperson Kmhuleko Hlengwa on @Radio702 yesterday of R146bn & R161bn for Medupi & Kusile respectively, are those @Eskom_SA's 2015/16 financials 3 years ago for year ending 31 Mar 2016, and are out of date & very misleading.
@Radio702 @JoanneGJoseph @Eskom_SA The CTC figures given by SCOPA chair of R146bn & R161bn for Medupi & Kusile do not include:
1. Flue gas desuplhurisation for Medupi (R38bn)
2, Capitalised interest during construction (R50bn & R65bn for M & K)
3. Rework and unauthorised expenditure at M & K since 31 Mar 2016
@Radio702 @JoanneGJoseph @Eskom_SA So, excluding unauthorised expenditure & rectification costs for design, execution & construction problems at Medupi & Kusile since 31 March 2016, the correct CTC figures advised to me by the @Eskom_SA COO & CFO about 2 weeks ago are as given below:
@Radio702 @JoanneGJoseph @Eskom_SA Note: I have these cost to completion (CTC) figures for Medupi & Kusile from @Eskom_SA in writing, and they were confirmed to me in a one-on-one meeting with the Eskom COO & CFO 2 weeks ago. SCOPA really needs to exercise oversight & interrogate figures provided to them by Eskom.
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Chris Yelland
@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The document presented by Eskom acting CEO Jabu Mabuza says that @Eskom_SA is in a utility death spiral with an outdated business model, with operational and structural inefficiencies, and a lack of transparency, in a rapidly changing in energy landscape.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.
Read 11 tweets
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Chris Yelland
@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.
Read 6 tweets
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Chris Yelland
@chrisyelland
There is a new strategy from a small group of disruptive elements to lodge complaints with the Public Protector & request investigations on issues they want to block. And the pliable PP is falling over backwards to investigate the dodgy complaints while neglecting the big stuff.
Apparently our esteemed Public Protector has now launched an investigation into signing of REIPPP Bid Window 4 (based on dodgy accusations from the usual suspects). Eskom has been asked to provide all the contracts & supporting documents. See details here:
bit.ly/2Olu3ET
The disruptive, dodgy elements have tried the courts and failed, but the Public Protector seems to be a soft touch, and is always up for a good stick to beat the current regime.
bit.ly/2Olu3ET
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