Despite its much-improved operational performance so far in 2024, Eskom has reported a decline in its sales volumes compared to a year earlier.
Eskom’s sales volumes declined in the first quarter of the 2025 financial year, as companies and households continued to reduce their reliance on the utility.
Eskom last posted a profit in its 2016 financial year. Since then, its losses have only deepened, reaching R23.9 billion in the 2024 financial year. This is largely due to a significant improvement in its Energy Availability Factor , which has improved from 54.5% in March last year to 61.3% at the end of its first quarter.
While its revenue for the first quarter rose by 15% compared to the same period last year, its sales volumes were 1 TWh lower. It also shows that consumers are still turning away from the utility despite its improved performance, with many pointing to the increased price of electricity as the reason.
Former Reserve Bank deputy governor Kuben Naidoo believes the only reason load-shedding has not occurred recently is significantly reduced output from the mining and manufacturing sectors. Mining companies are the best example of this, with Harmony Gold estimating its solar installations would save R425 million a year in electricity costs.
Oosthuizen explained that as the country starts to feel the impact of this progression, a decline in Eskom’s revenue will become increasingly evident, and the trend may accelerate.
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