Posts Tagged ‘Bonuses’


Load shedding news – more on Eskom bonuses and the poor condition of power stations

8 April 2008

The Democratic Alliance last week accused minister of public enterprises and Eskom executives of evasive tactics following statements from Eskom and the department of public enterprises indicating that the question of bonus shares for Eskom executives was yet to be decided.

“As such, the Democratic Alliance calls on Minister of Public Enterprises Alec Erwin to make a clear and unambiguous statement that the bonuses will not be paid,” said DA public enterprises spokesperson Manie van Dyk.  Click here to read more >>

The DA also wrote to Eskom asking for clarity on a number of issues, not least of which was whether Eskom had implemented pre-emptive load shedding in an urgent attempt to recondition poorly-maintained plants ahead of peak winter demand. This followed two shock announcements from the power utility regarding the questionable condition of power plants and the stoppage of certain projects if Eskom’s 60 percent tariff hike application was rejected. Click here to read more >>


Parliamentary question on Eskom Bonuses

3 April 2008

A couple of weeks ago, we highlighted the issue of Eskom senior staff being paid huge bonuses despite the energy crisis the country was facing. The DA submitted a parliamentary question about the performance contracts, and the question and answer are appended below.

Unfortunately, the minister has taken a very narrow interpretation of the question and hidden behind the confidentiality of performance contracts. He refuses to give any information at all about the kinds of things that are considered in evaluating performance (appropriate long-term planning and ensuring a reliable and suitable quality coal supply would be two key performance areas, one would think).

Mr C M Lowe (DA) to ask the Minister for Public Enterprises:

(1) With regard to Eskom’s past three annual reports in which it was revealed that its top management was paid a total of R143 million, including R57 million in bonuses, what are the relevant details regarding how agreement on these bonuses were reached;

(2) whether these bonuses were tied to any performance targets; if not, why not; if so, what targets?

Read the rest of this entry ?


Load shedding News – DA calls for detailed timetable on electricity tariff hikes

1 April 2008

The Democratic Alliance announced last Thursday that it had written to Public Enterprises Minister Alec Erwin asking him to publish a detailed time-table reflecting the proposed magnitude and time frame of price hikes over the next three years.

“We have also asked for information on how performance bonuses are determined and furthermore, for a firm commitment that no performance and bonus shares will be paid at the end of this month,” said party public enterprises spokesperson, Manie van Dyk.

“Eskom and the government’s inability to fix on a clear proposal for electricity price increases is doing little to mitigate the damaging effects of the crisis on corporate South Africa and the greater public.” Read the rest of this entry ?


Load shedding News – Eskom Bonuses, development stoppages and the minister’s salary

11 March 2008


The Democratic Alliance has slammed the proposal that shares to the possible value of R10m be awarded to Eskom management.

DA spokesperson on public enterprises Manie van Dyk said the awarding of such shares would be outrageous, given that South Africans were bearing the brunt of extreme negligence on the part of Eskom management.

Van Dyk would be writing to the Minister of Public Enterprises and the chief executive officer of Eskom in an effort to prevent these bonuses from being paid out.

“This money should rather be diverted into Eskom’s coal procurement or capital expansion plan.”

A lack of planning has seen massive rolling blackouts sweeping across South Africa, and the economy being hit because big industry it cannot reach its production targets. Citizens have also been trapped in lifts and in huge traffic jams amid periodic shortages of electricity.

An group calling itself the Powergroup has started an online petition to stop Eskom from paying bonuses. Click here to sign the petition.

DA presses Eskom CEO about development stoppage Read the rest of this entry ?