The Ubuntu Party, whose members announced themselves to Roodepoort early in 2013, will be taking part in this year’s elections.
The party is known for their radical stance on a variety of issues. Run by the charismatic scientist, writer and anthropologist Michael Tellinger, the party wants to create a cashless society, has taken on the banking system, claims that the Republic of South Africa is listed as a corporation on the New York Stock Exchange and is an ardent exponent of free energy.
“Between 2003 and 2013 the cost of electricity rose from 19,9c/kWh to 128c/kWh. According to Eskom this massive increase of 543 per cent was necessary in order to obtain a higher credit rating, which would enable the utility to finance its future capital expansion at a slightly lower interest rate,” explains Tellinger.
“This aim was realised in January 2014 when Fitch Ratings granted Eskom a rating of AAA. The hidden and real purpose of this foolish and criminal exercise was nothing more than a devious scheme to fleece more money from hard-pressed consumers in order to enrich the bankers who create Eskom’s loans out of thin air. If Eskom had been able to fund all its capital expenditure at nil per cent from a People’s Bank, most of this increase would have been superfluous.
“In 2013 Eskom recorded sales of R126,66 billion. The sectoral components of these sales in percentage terms were as follows: • Domestic 18,5
• Agriculture 2,3
• Mining 18,0
• Manufacturing 43,7
• Commercial 9,1
• Transport 3,1
• General 5,2
“The domestic proportion of total sales amounted to R23,4 billion. Interest paid is reflected in the accounts as R9,968 billion. However, this is not the full amount, as R9,996 billion is equivalent to an interest rate of 4,9 per cent per annum on outstanding loans of R203 billion,” says Tellinger.
Tellinger goes on to explain that if one adjusts the interest rate to nine per cent per annum, which allows for the lower interest rate on bonds denominated in foreign currencies, then Eskom paid at least R18,27 billion in interest.
“This sum comes close to matching the R23,4 billion paid by domestic consumers,” says Tellinger.
“95 per cent of Eskom’s power is derived from coal, with the balance coming from the Koeberg nuclear plant in the Western Cape. The Ubuntu Party proposes the introduction of a number of alternative energy sources, which are far cheaper and cleaner, but that are ignored because they will undermine the profit margins of Eskom’s corporate partners in this massive extortion of our people.
“While the obvious alternatives such as solar, wind and hydro electricity are almost completely ignored by our leaders, there have been numerous discoveries by inventors and scientists in South Africa and the rest of the world that can provide extremely cost-effective energy in both the automotive and industrial sectors.”
Tellinger ended by saying that the Ubuntu Party tirelessly will promote the introduction of alternative energy technologies.
