Lerato Mbhiza
Eskom has reported that it was expecting to record an after-tax loss of R23.2 billion by the end of the 2023/24 financial year due to the continued poor generating plant performance, in spite of achieving a profit in the first six months.
The struggling power utility reported a net profit after tax of R1.6bn for the six-month period ended 30 September despite continued financial and operational challenges.
In a statement released by the entity on Wednesday evening, Eskom said its debt remains unsustainably high and to address this issue, the state has committed a total of R78 billion in debt relief for the 2024 financial year, of which R16 billion was received in August, R20 billion in October and R5 billion in December 2023.
The remainder of the bail out will be paid over in the current financial year.
Eskom’s Acting Group Chief Executive, Calib Cassim. said the
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