Despite a 9.61% tariff increase approved by the National Energy Regulator of South Africa and a R21.9 billion bailout from the treasury, Eskom is set to post a R21.2 billion loss..
Despite a 9.61% tariff increase approved by the National Energy Regulator of South Africa and a R21.9 billion bailout from the treasury, Eskom is set to post a R21.2 billion loss. approved by the National Energy Regulator of South Africa and a R21.9 billion bailout from the treasury, Eskom is set to post a R21.2 billion loss.
“Eskom’s debt stock swelled to R439 billion — about a 10% increase over the year — due to the weakening rand and borrowing activities. It earned less revenue than anticipated and spent more, especially on diesel [R21.36 billion], which was more than double the previous financial year,” Godongwana said.
In March, Eskom said only a few municipalities had entered into active agreements with it, despite developing a debt management strategy. The utility plans to have its first gas to power project up by 2028 following consultation with both Nersa and Minister of Mineral Resources and Energy Gwede Mantashe to build a new combined-cycle gas power station in Richards Bay.
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 to post record R21.2 billion loss for the last year | BusinessEskom made a whopping R21.2 billion loss over the past financial year, its largest ever, unaudited results disclosed by the National Treasury in Parliament showed. | News24_Business
Read more »
PALI LEHOHLA | So much self-praise, so little fanfare for Eskom at the big 100The two books all over the news, on Mashaba and De Ruyter, reveal some things about the audience
Read more »
Eskom plans to build 3,000MW gas power station without its own moneyAs part of the National Treasury's terms for the government taking over R254 billion of Eskom's debt, the utility is not allowed to borrow more money for building power stations.
Read more »
MPs still seek names of politicians linked to Eskom graftThe standing committee on public accounts aims to verify De Ruyter’s allegations, says Benedicta van Minnen
Read more »
Ramokgopa to use new powers to fight sabotage at Eskom's power stations - report | The CitizenElectricity minister wants increased security at power stations as well as a step up in investigations into sabotage. 💡 Eskom Ramokgopa Read more here ⬇️
Read more »
R500m Eskom security tender under De Ruyter scrutinisedPrivate security association, Tapsosa says former CEO Andre de Ruyter flouted tender processes to get the deal approved.
Read more »