Monday, 3 August 2026: Eskom welcomes President Cyril Ramaphosa’s statement on the Phase I Report prepared by the Eskom Restructuring Task Team (ERTT) and supports the delivery of the government policy to establish an independent, state-owned Transmission System Operator (TSO).
Eskom notes the emphasis in the ERTT’s Phase I Report that the establishment of the TSO should be implemented in a manner that addresses lender requirements, avoids defaults, and ensures that Eskom is not placed in a worse financial position and appropriately considers shareholder rights and interests. These considerations are important to maintaining Eskom’s financial sustainability and supporting a stable and orderly transition as the reform process progresses. This principle is a key enabler of a competitive electricity market that can support reliable, cost-effective electricity supply, strengthen energy security, attract investment, and contribute to South Africa’s economic growth, while reducing the risk of market failure.
“The Eskom Board shares President Ramaphosa’s vision of an independent Transmission System Operator that will own the transmission assets at the appropriate point in the future. Equally, the Board has a clear fiduciary responsibility to ensure that Eskom remains financially sustainable so that energy security can continue to power South Africa’s growth. It is precisely for these reasons that we fully support the pragmatic approach of treating electricity sector reforms as a carefully sequenced process with clear stage gates,” said Eskom Board Chairman Mteto Nyati.
“As Phase II of the reform process commences, it is important that the implementation process safeguards Eskom’s financial sustainability and appropriately addresses lender requirements, financing arrangements and contractual obligations. The establishment of an independent TSO is a material event for Eskom’s lenders and will require careful engagement as the implementation pathway is developed. Successful reform and a financially sustainable Eskom are complementary objectives that will help support a stable, sustainable and investment-ready electricity,” continued Nyati.
Eskom also welcomes the ERTT’s proposal to establish a dedicated workstream to develop solutions to municipal arrear debt.
“Addressing municipal arrear debt, which has reached R119 billion, remains critical to Eskom’s long-term financial sustainability and its ability to meet existing debt obligations. Progress in this area will be an important consideration in developing a sustainable implementation pathway for a fully independent TSO. Eskom, therefore, further welcomes the proposal to establish a focused programme of work to address this challenge,” concluded Nyati.
Eskom remains committed to supporting South Africa’s electricity market reforms while ensuring that the implementation process strengthens the long-term sustainability of the utility and the broader electricity sector. Eskom will continue to engage with affected stakeholders and provide updates, as appropriate, as the reform process progresses.
About Eskom and Electricity – Smart Grid Initiatives: Eskom is exploring smart grid technologies for efficient electricity distribution.
Speedwell
While studying to be a CA, Nicholas Bell developed a merchandising app for SAB (South African Breweries), once he built one solution, he quickly acquired more clients and by the time he was preparing to do his articles, SAB gave him a three-year deal as part of their merchandising programme. At 22, while still living with his parents, his first business comprising four people had a turnover of R700 000. By the second year, turnover grew to R1.6 million. After six years, his turnover was R21 million, he employed 25 people with clients including Simba, Harmony, ArcelorMittal, SAB, and Sibanye Gold. Eight years later, Bell hit R100 million, then pivoted the business to ensure they couldn\’t be disrupted. He implemented an investor-led strategy, which will see the business doing 40% of its work offshore with a R500 million turnover in five years.