ESKOM JOINS ZUMA , GUPTA & Co’s STATE CAPTURE WITH EXUBERANT RACKETEERING PRICE HIKES:

 

 

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Article posted  by: White Nation correspondent Potchefstroom September 27   2017

 

 

SOUTH AFRICA– FAILED LAND OF COMMUNIST ANC ORGANIZED CRIME ,LIBFARTS, UNION CHAOS , MISDIRECTED RAINBOW MONKEYS – AND WHITE GENOCIDE

IT is not only Zuma & his Gupta cronies that are responsible for the state capture of South Africa. We agree that everybody are looking at this two main culprits for the biggest fraud against the country- but beneath the surface there is much more to be discovered. There are more pieces to this dubious racketeering puzzle than meets the eye.

One of the biggest villains that also assist in capturing the state – is ESKOM– that monopolizing state parastatal with the greedy board of directors. Together with the city councils that are totally marinated in hippocracy against a certain group of (mainly white) tax payers- they form a huge part of the state capture as well. Cape Town City Council and Pretoria City Council are two of the main culprits in this division- financially killing the white tax payer just in order to write off the debt of the majority black non-paying shanty-town voters.Add to that the non-tax paying taxi industry, millions of illegal non tax paying street vendors , millions of rands of “free bees” to mainly black squatter camps– and continues corruption from government white collar criminals – and we end up with a country in total financial disarray! South Africa must be the only “rainbow nation” which have a “rainbow” with both ends in a pot of sh*t! 

BUT BACK TO THE ESCOM HOODLUM FACTORY…

The average four-person South African household should pay R290 a month for electricity, yet Eskom is charging them roughly R1,200, says a lobby group. Now Eskom is seeking a 20% tariff increase from the National Energy Regulator of SA (Nersa). Energy analysts have described Nersa, which starts its public hearings into the proposed tariff increase in Pretoria today, as the only thing preventing disaster.

Presentations by the Organisation Undoing Tax Abuse to parliament’s public enterprises portfolio committee this week reveal the power utility should be relying on its capital expenditure budget and the government and not on ordinary South Africans to float it. Statistician-General Pali Lehohla report shows the public corporation had the lion’s share of capital expenditure. Finance Minister Malusi Gigaba this month said the government was considering granting Eskom a “favorable “ – loan or possible bailout.

StatsSA on Wednesday released its findings of Capital Expenditure by the Public Sector 2016 report, which showed that capital expenditure by public sector institutions rose to R284-billion from R265-billion. The report shows that capital expenditure by state institutions has increased by R1.2-trillion over the past five years. Eskom accounted for R73-billion, with the new Medupi, Kusile and Ingula power stations accounting for R70-billion.

Outa’s energy specialist Ted Blom told parliament that Eskom had a qualified audit of R3-billion in irregular expenditure without supporting documents. “Explanations are needed as to how the R3-billion was processed without the documentation. Either there is a magic password which allowed this or there is an old chequebook lying around. Either way Eskom’s chief financial officer, Anoj Singh, must explain.”

Blom described the electricity tariffs the average four-person household was paying as “daylight robbery’’. “There are three cost drivers to the power utility. They include the financing costs of money borrowed, their power plants and the operations.” Only Eskom’s operations were subject to inflation, so increases should be a third of inflation, as two-thirds of costs were fixed. Eskom’s chief financial officer is facing pressure to explain evidence which places him at the center of deals worth billions for the Gupta family and their associated companies.

He said on the assumption Eskom was efficient in 2005, and the cost of electricity for a four-person home was R160, the cost now for electricity, based on an annual escalation of a third of Consumer Price Index, would be R290. Blom said compounding Eskom’s financial problems was the building of Medupi and Kusile power stations. Blom said Eskom recently announced that it needed to borrow R325-billion over the next five years to finish off the two stations, 10 times higher than initial estimates. He said Nersa should, and could, dramatically reduce the electricity tariff. Nersa spokesman Charles Hlebela would only say that Eskom’s application would be considered in terms of the law. Eskom spokesman Khulu Phasiwe said the entity would respond to allegations in parliament and not through the media.

The Times

EDITOR’s FOOTNOTE:

( We said it time and again that people must stop being lazy bums and start waking up to manufacture their own free energy sources- like this excellent power unit– an old invention- to power their houses. It’s free energy- but somehow the people of South Africa appear to be the most lazy incompetent and careless oafs on the block- still paying through their necks for racketeering mobsters like ESKOM….and still bitching about it! Together with the South African Revenue vultures, the Cell phone scavengers- and the monopolizing petrol price hikes- South Africa became a fertile breeding ground for corporate thieves and selfish political hoodlums who ostracize the general gullible tax payer on a monthly basis. How Long is it going to take to wake up the lazy South African consumer?  -Ed) 

 

 

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