Eskom acting CEO Johnny Dladla is prioritising meeting with critical stakeholders, including employees, to share and get support for the company’s operational plans going forward.

“Together with my executive management team, we will put special focus on corporate governance and ethics going forward, a move that will help us restore confidence and stability in the company.

“We are on course with our five priority initiatives, which include increasing demand for electricity; reducing primary energy expenses; implementing advance analytics to deliver savings; releasing government guarantees; and optimising our capital expenditure,” Dladla said in a statement on Thursday.

The utility is currently able to “comfortably” meet South Africa’s daily power needs comfortably, with an operational surplus of 5 500 MW.

Dladla added that the State-owned company would now seek to deal with issues pointed out by Public Enterprises Minister Lynne Brown. These include the management of contracts, conflict of interests and the quality of coal supply.

Meanwhile, he noted that Eskom had managed to secure 77% of its funding requirements, including cash on hand, for the 2017/18 financial year despite tough market conditions.

In the 2016/17 financial year, the parastatal had, for the first time, managed to increase its borrowings by over R60-billion in one single year, “a move that is indicative of the confidence that the investors still have in Eskom”.

“We remain resolute that we will fully execute the required funding for the year, albeit under challenging market conditions. Our liquidity levels remain healthy and Eskom’s financial profile continues to improve and stabilise.

“Backed by the availability of the government guarantees and the stable financial profile, we do not foresee significant impediments in the execution of the remainder of the 2017/18 funding requirement,” said Dladla.

Eskom has also appointed Abram Masango acting CEO of Eskom Enterprises, a subsidiary company.

Masango, who was until recently responsible for the Eskom new build programme, will now oversee all activities of Eskom Enterprises and its subsidiaries, which include Eskom Rotek Industries, and its interests on the continent to pursue nonregulated business opportunities.