Mantra Eskom is ‘too big to fail is a fallacy’
Miller, who is based in the United Arab Emirates, concluded in his report, which was published last week, that Eskom has devolved into an “operationally dysfunctional, financially insolvent, unreliable and corrupt entity”.
Miller said a full independent “forensic audit” of Eskom – including the creation of detailed audit trails – must be conducted immediately for the benefit of its creditors, vendors, unions and other stakeholders.
Miller, an energy restructuring expert in the global energy and infrastructure industry for close to 30 years, also took issue with the unbundling of Eskom into three separate units.
“Eskom must be ‘ring-fenced’, triaged, and brought under the control of a new ‘hands-on’ senior energy CRO (chief restructuring officer), not another chief executive, and a new independent senior energy executive management team,” Miller said.
Source: iol.co.za
