Eskom To Be Transferred To Energy Dept, Headwinds For Power Provider Continue

South African President Cyril Ramaphosa told reporters that the beleaguered state-owned electricity utility Eskom will be taken away from the Department of Public Enterprises and moved to the Department of Mineral Resources and Energy, albeit the process will take some time.

• "Whenever we take a resolution it does not mean that you then move everything (...). Things in government move very slowly, I have learned," Ramaphosa told journalists on Monday.
• The President emphasised that Eskom's problems started many years ago and the government is now dealing with the situation, as he continued to insist that the power provider's problems are not his administration's fault.
• According to Ramaphosa, Eskom CEO De Ruyter stepped down because "it's a tough job." Over the weekend, the outgoing official revealed that he survived a murder attempt the day after handing in his resignation.
• In the lead-up to his resignation, De Ruyter came under strong criticism from Energy Minister Gwede Mantashe, who accused him of "agitating for the overthrow of the state," with Public Enterprises Minister Gordhan defending the Eskom CEO.
• The weekend brought information about further headwinds for the power utility, as Eskom announced ramped up load-shedding until further notice and confirmed to Bloomberg that it has run out of diesel allocation that was expected to last until end-March.