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Eskom’s CEO Dan Marokane.
Eskom has announced a net loss of R25. 5 billion before tax.
Eskom chair Mteto Nyati says this is an improvement from the R34. 6 billion loss in the 2023 financial year.
The power utility released its financial results on Thursday. Eskom is facing mounting debt levels compounded by the culture of non-payment.
Nyati says the 2024 financial year was exceptionally challenging operationally and financially.
He however says they have laid a foundation for 2025 financial year.
He says there were 329 days of load shedding despite diesel usage valued at R33.9 billion.
Nyati added that transmission network reliability improved significantly.
He added that arrear municipal debt escalated to R74.4 billion from R58.5 billion the previous year.
Electricity and Energy minister Kgosientsho Ramokgopa says the power utility needs to improve revenue collection.
He added that municipal debt recovery needs urgent attention.
Video: Minister Kgosientsho Ramokgopa hosts last EAP media briefing for 2024
