We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Eskom’s warning that it couldn’t rule out another round of load shedding in the next few months turned out to be an understatement. Less than a day after it released its latest set of grim financial results, the lights were going off already. It was perhaps symbolic that on the day of the release of the results, entering the company’s head office in Sunninghill was a challenge due to a traffic gridlock caused by blank traffic lights. That set the tone for what was to come. Needless to say, none of it made happy reading. Interest costs doubled in just one year to R45bn, nearly twice as much as the cash generated by its operations, while total debt soared above R400bn. In the meantime, its sales volumes were down 0.8% in the year to date. While unreliable supply is causing more and more previously paying customers to leave the grid completely, Eskom is still burdened by having to provide electricity to those who won’t pay. Arrears from municipalities have jumped to R17bn, from R13.6bn...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.