Eskom is set to publish figures showing a R15-billion annual loss, the Financial Times reported on Saturday.
reported on SaturdayThe loss is largely due to Eskom spending R33-billion on buying diesel, which is burnt in open-cycle gas turbines to keep the lights on, the report said.
The utility, which recorded a full-year loss of R23.2-billion in the 2023 financial year, will release financial results for the year-to-March later this year, the FT said.Dan Marokane“We saw record use of diesel last year, hence record losses,” he said. “But we’ve really cut down on diesel, so we should see a substantial financial improvement this year. If we maintain our trajectory, there’s no reason we shouldn’t even see a profit.
Eskom has paused the blackouts in the past few months due to better maintenance of its coal fleet and power generation from 5GW of private solar installations. —
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eskom CEO reveals first big goals in fixing South Africa’s electricity crisisEskom CEO Dan Marokane has highlighted his primary goals for improving electricity availability and Eskom’s balance sheet in the coming years.
Read more »
Eskom has the opportunity to reinvent itself: CEOEskom CEO Dan Marokane said the utility needs to intensify its recovery and add clean energy stations.
Read more »
Delaying coal power plant shutdowns could push costs to R90bn, warns Eskom CEOIn a meeting of the Presidential Climate Commission on Friday, Eskom CEO Dan Morokane said that delaying shutting down some of the utility’s coal power stations will cost the taxpayer up to R90-billion. Despite the figure, it is still a net benefit, he explained.
Read more »
44 arrested in R15 million liquor heist in GautengThe suspects were caught during the heist loading the stolen liquor into four separate trucks.
Read more »
Major seizure of counterfeit goods worth R15.5 million in JoburgThe National Counterfeit Goods Unit, in partnership with several crime-fighting agencies, seized fake products worth R15.5 million.
Read more »
R15 million+ bill: SA clubs in FIFA ‘naughty corner’R15 million+ bill: SA clubs in FIFA ‘naughty corner’
Read more »