{"id":16280,"date":"2025-11-27T10:56:32","date_gmt":"2025-11-27T08:56:32","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/sas-eskom-finalises-kusile-contract-dispute-as-utility-records-ratings-upgrade\/"},"modified":"2026-02-27T16:31:30","modified_gmt":"2026-02-27T14:31:30","slug":"sas-eskom-finalises-kusile-contract-dispute-as-utility-records-ratings-upgrade","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/sas-eskom-finalises-kusile-contract-dispute-as-utility-records-ratings-upgrade\/","title":{"rendered":"SA&#8217;s Eskom finalises Kusile contract dispute as utility records ratings upgrade"},"content":{"rendered":"<div class=\"x_elementToProof\" data-olk-copy-source=\"MessageBody\">The disagreement, which began in 2022, centred on the building&#8217;s contract and was settled following the conclusion of a formal Dispute Adjudication Board (DAB) process.<\/div>\n<div data-olk-copy-source=\"MessageBody\"><\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">The parties used the DAB mechanism, standard on large infrastructure projects, to clarify their positions on complex contractual matters, ultimately agreeing on a full and final settlement of $33.75 million covering claim 5, claim 6 and Eskom\u2019s counterclaim. The settlement is $6.11 million below the DAB\u2019s $39.87 million determination, and far lower than SSBR\u2019s original demand of $93 million for claim 5.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">Group Chief Executive Dan Marokane said the outcome demonstrates the effectiveness of measures introduced to protect Eskom\u2019s finances and ensure rigorous oversight of contractor claims. Eskom emphasised that the settlement does not imply any admission of fault or mismanagement, and that the payment will not be recovered through customer tariffs.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">Kusile Power Station is now fully operational, with Unit 6 having entered commercial service on September 29, 2025. Eskom stated that the closure of the dispute enables renewed focus on contract finalisation, operational optimisation and reliable power supply.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div><\/div>\n<div class=\"x_elementToProof\">The utility also welcomed a credit ratings upgrade by S&amp;P Global Ratings, which raised Eskom\u2019s foreign and local currency long-term ratings from B to B+, with a stable outlook.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">The agency also upgraded Eskom\u2019s senior secured and unsecured debt, while government-guaranteed foreign currency debt climbed from BB- to BB+. Eskom\u2019s national scale rating improved from zaBBB+\/zaA-2 to zaA\/zaA-1.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">S&amp;P\u2019s decision reflects the progress achieved under Eskom\u2019s Turnaround Plan, which has stabilised generation and strengthened financial performance. Eskom supplied electricity 97.9% of the time in the current financial year, up from 96% in FY2025, and recorded its first profit in eight years.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">Marokane said the utility has moved \u201cfrom a generation crisis to a phase of reliability and disciplined management\u201d, with continued focus on governance improvements, combating corruption and preparing the organisation for long-term energy security.<\/div>\n<div><\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">&#8211;ChannelAfrica&#8211;<\/div>\n","protected":false},"featured_media":16281,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-16280","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"South Africa's power producer, Eskom, has resolved a long-running commercial dispute with the Stefanutti Stocks Basil Read Joint Venture (SSBR), bringing an end to one of the last major legacy contractual issues at Kusile Power Station.\u00a0","published_date":null,"news_description":"South Africa's power producer, Eskom, has resolved a long-running commercial dispute with the Stefanutti Stocks Basil Read Joint Venture (SSBR), bringing an end to one of the last major legacy contractual issues at Kusile Power Station.\u00a0","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/16280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/16280\/revisions"}],"predecessor-version":[{"id":20156,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/16280\/revisions\/20156"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/16281"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=16280"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=16280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}