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'Eskom's financial outlook is in crisis' - Expert

Energy analyst Chris Yelland predicted that Eskom is expected to report a R20 billion loss for the 2018/19 financial year which ended in March.

Eskom flags. Picture: EWN.

JOHANNESBURG - As Eskom prepares to present it's financial report to the board, some analysts say the numbers are not looking good for the cash-strapped utility.

Energy analyst Chris Yelland predicted that Eskom is expected to report a R20 billion loss for the 2018/19 financial year which ended in March.

It's the latest of challenges facing Eskom following the recently announced resignation of it's CEO Phakamani Hadebe who will leave the utility at the end of July.

Yelland said Eskom's financial outlook is in crisis.

"They have [financial results] to be presented typically by the end of June and therefore require Eskom to be certified a going concern business by its auditors and that presents an immediate crisis because it's going to require a bailout from government and the R23 billion a year announced by the minister is not enough."

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