Electricity theft and unrecognised municipal revenue together exceed the utility’s entire annual profit.
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Eskom has confirmed R36.8-billion of irregular expenditure relating to prior years, restated outside the financial statements.
Eskom has asked for permission to raise priced by 36% in its 2026 financial year, far exceeding inflation.
Government on Friday appointed Dan Marokane as the next CEO of Eskom.
South Africa’s hopes for a raft of new power projects to help it out of a crippling energy crisis are fading.
Eskom said it will work hard to avoid anything higher than stage-4 load shedding this summer.
Eskom has been excluded from national treasury’s updated set of cost containment measures, Business Day reported.
Treasury given Eskom the first tranche of a package that will wipe off more than half the utility’s liabilities.
Trade unions at Eskom have agreed a new three-year wage deal on Thursday giving a 7% pay rise for each year.
It’s going to be an exceptionally “hard” winter for South Africans, Eskom said, with record stage-8 power cuts possible.