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Eskom’s logo is seen at the Megawatt Park in Sunninghill, South Africa, May 18, 2023.
The Minister of Electricity, Kgosientsho Ramokgopa says Eskom is expecting to achieve a minimum profit of R10-billion in the 2024/25 financial year.
Last week, Eskom released its financial report for the financial year 2023/24 which covers the year-end of March 2024, revealing a R55-billion loss.
Ramokgopa was speaking at his last Energy Action Plan Media Briefing for 2024 in Pretoria this morning.
“As a result of this improved performance, our projection is that we should be at a minimum achieving about ten billion rands by the end of the financial year.”
Speaking on diesel spend, Ramokgopa says Eskom managed to save approximately R16 billion this year from not burning diesel.
Last year, the power utility spent about R30 billion from burning diesel through the usage of open gas turbines.
This was in efforts to keep the lights on in the midst of the heavy load shedding periods.
Ramokgopa says while Eskom spent less on diesel this year, the power utility has seen an increase in the use of diesel since the beginning of December 2024.
Meanwhile, the minister says as new energy is being generated, additional capacity is required to protect the national electricity grid.
He says this is important because this will ensure that the generated electricity reaches consumers.
“It’s important that you are able to protect base load as well on boarding. Renewables while fixing your grid, it’s modernisation. The greater the penetration of renewables, the greater the risk to the grid. You need to protect the grid.”
Eskom Debt Levels | Municipal debts have escalated overtime:
