As load shedding makes a return, Eskom projects R10 billion profit for 2025
Eskom on Friday briefed Parliament about its annual report for 2023/2024, where it saw the longest and highest levels of load shedding.
Picture: Xanderleigh Dookey-Makhaza/Eyewitness News.
CAPE TOWN - Load shedding may have made an unexpected return after almost a year, but Eskom management says they project an R10 billion profit this year.
Eskom said this was due to improved generation performance and higher revenues.
But some MPs have questioned the after-tax profit projected as the entity continues to struggle with high municipal arrear debt of R74 billion.
The power utility on Friday also announced the return of stage three load shedding due to several breakdowns.
Eskom on Friday briefed Parliament about its annual report for 2023/2024, where it saw the longest and highest levels of load shedding.
But chairperson, Mteto Nyati, said that projections for 2025 were looking positive, with R10 billion in profit.
"Our interim results showed a profit, something we have not been able to do for a number of years."
But some committee members, like the Democratic Alliance (DA)'s Kevin Mileham, questioned this.
"Can I ask how Eskom justifies a R10 billion profit when South Africans are being asked to pay 12.7% more for their electricity going forward."
Eskom justified the profit, saying it only represented a 3% profit margin, saying the company ideally should be making bigger returns.