Eskom Medupi power station.
Eskom Medupi power station.

THE Treasury confirmed on Friday that an amount of R3bn is to be transferred to Eskom this week‚ but said this was part of R5bn that had been withheld in December.

It said the government had approved fiscal support of R23bn to Eskom‚ to be transferred in three tranches of R10bn in June 2015‚ R10bn in December 2015 and R3bn in March 2016. A total of R15bn had been transferred so far.

Of the second R10bn due to have been transferred in December 2015‚ the finance minister had withheld R5bn, it said.

But following the submission of additional information by Eskom‚ on February 22‚ Finance Minister Pravin Gordhan had approved the transfer of a further R3bn, which would be transferred to Eskom this week‚ it said.

"The Treasury will be working with Eskom over the next few weeks to manage the transfer of the remaining R2bn plus the R3bn that was originally scheduled for March. Eskom will submit information in early March and the Treasury will assess this before approving the transfer.

"It should be emphasised that the funds to cover the Eskom fiscal support have been raised already and are waiting for transfer in line with the terms (the) government set out when approving the fiscal support‚" the Treasury stated.

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