With ordinary taxpayers being tasked to cover the bill for a R23 billion Eskom bailout in 2015, Eskom bosses bagged R18.3 million as bonuses.
A 2016 Eskom’s Integrated report on its financial performance for the 2015/2016 financial year revealed that Eskom bosses received R18.3 million as performance bonuses.
The amount essentially infers that an average of R1.6 million was doled-out for 11 Eskom directors and executives for keeping the lights on in the last financial year.
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Commenting on this, South Africa’s official opposition party remarked that the average South African would be devastated to see bonuses of such magnitude being paid out.
“Since the initial electricity blackouts in South Africa in 2008. The National Energy Regulator (Nersa) has granted Eskom an annual average increase of 22% a year for seven years.
It granted the power utility outlet a 9.4% electricity tariff hike earlier this year. The hike is of course, footed by the ordinary South African consumers.
Eskom has claimed in the past that it awarded bonuses because (they) managed to intermittently stave off load-shedding. Eskom executives would do well to remember that they have one job. (Which is) to keep the lights on and that is what their salaries are for.
Since load-shedding began in 2008, Eskom executives have received over R73 million in bonuses…
This is an insult to hard-working and poor South Africans. Who continue to struggle without a stable supply of electricity and basic services,” stated the Democratic Alliance (DA) party.
DA further cautioned that energy is the life blood of the economy.
Without a stable supply, businesses will collapse, investors will not invest, and ultimately joblessness will increase, said the party.
As the South African economy faces shocks on various fronts. Including a devastating drought…we cannot afford for millions of rands being plundered into undeserved salaries.
…There is still much uncertainty in the energy sector and the sustainability of our electricity supply,” DA lamented.