Eskom CEO Brian Molefe went on the offensive on Tuesday against critics of the State-owned utility’s recent coal contract with the Gupta-family-linked Tegata Exploration and Resources, likening the role of the banks and the media in the “hullabaloo” to that of a “kangaroo court”. Speaking at the release of the electricity producer’s annual results, Molefe offered an elaborate exposition of the how it came to pass that Eskom made prepayment to Tegeta, which facilitate the supply of Optimum coal to the Arnot power at a price of R470/t. Tegeta controversially bought Optimum out of business rescue from Glencore, which found R150/t fixed-price contract to supply the Hendrina power station until 2018 to be onerous and unsustainable.
