Eskom debt
Eskom records net loss of R18.9 billion due to mounting debt
CEO André de Ruyter has been releasing the annual results for the year ended March 2021 virtually on Tuesday afternoon.
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Eskom reduced debt by R83 billion, Gordhan tells MPs
Public Enterprises Minister Pravin Gordhan said that managing Eskom’s debt was a key priority for the government as it tried to steer the power utility onto a sustainable path.
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Eskom forecasts net loss of R26.2bn for 2020/2021 financial year
Eskom CEO Andre de Ruyter said that municipalities were some of the main offenders but said that Eskom had secured 64% of funding for the 2021 financial year by the end of last month.
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Provinces ask for national govt's help in addressing municipalities’ Eskom debt
One municipality’s Eskom debt makes up just over 30% of its R6 billion budget. Gauteng local government MEC Lebogang Maile said municipalities are working with Eskom to resolve the debt.
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Eskom says gross debt rose to R488bn as of March
Eskom added that its pre-audited results for the 2019/20 financial year reflected a closing cash balance of R23 billion, and that the risk of power cuts would remain until after it had completed an 18-month maintenance programme.
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Eskom reports some progress, but Soweto residents still owe R12.9bn
On Monday, the utility told Eyewitness News that Soweto residents had made some progress in paying off their cumulative debt, which is now sitting at R12.9 billion.
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De Ruyter sets objectives for Eskom to be self-sustaining business
The power utility has been dependent on government guarantees for years now to keep up with its operations, as it struggles with a R450 billion debt bill.
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Cosatu urges Ramaphosa to use Sona to endorse its proposal to bailout Eskom
The trade union federation has suggested using workers’ pension funds to bail out the cash-strapped utility.
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Eskom pleads with Salga, municipalities to pay R20bn debt
The utility's debt has escalated by over R20 billion in just a few years, with chairperson Jabu Mabuza saying debt owed to the company stood at only R1.3 billion in 2013.
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There is urgency to act on SA's energy supply, says Ramaphosa
In his weekly newsletter, Ramaphosa has also assured South Africans that technicians were working around the clock to fix problems at several power stations to restore stability.
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Some MPs left frustrated by Eskom's bailout requests
A select committee was considering a bill that would see the power company being allocated an addition R59 billion over the next three years.
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Ramaphosa announces Eskom to be unbundled into 3 entities
The three separate entities will deal with generation, transmission and distribution under Eskom Holdings.
