South Africa’s power utility company, Eskom, has recorded a net loss of R25.5 billion.
This is contained in the company’s financial statement released on Thursday.
Despite this quantum of the net loss, the Board Chair of Eskom, Mteto Nyati, said this is an improvement from the R34.6 billion loss in the 2023 financial year.
Eskom is facing mounting debt levels compounded by the culture of non-payment.
According to him, the 2024 financial year has been exceptionally challenging operationally and financially.
He, however, said the company has laid a foundation for the 2025 financial year.
He said there were 329 days of load-shedding despite diesel usage valued at R33.9 billion.
Nyati added that transmission network reliability improved significantly.
He further said that arrears of municipal debt escalated to R74.4 billion from R58.5 billion the previous year.
Source: https://energynewsafrica.com
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