As it braces for higher maintenance costs and a drop in electricity demand in the summer months, Eskom forecast a record R22bn full-year loss on Monday even as the power utility made a profit in the first half.

"Don’t let the half-year results fool you," said Eskom CFO Calib Cassim. "We’ve always spent more money in the second half. We’ve earned less revenue in the second half and that is why there is a year end projection of the loss of some R22bn."..

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