Eskom and South Africa must brace themselves for tough measures in order to make the power supply sustainable, Public Enterprises Minister Lynne Brown said today.“We have to organise the country to attack these problems... Failure is not an option,” she said at Eskom’s Megawatt Park in Johannesburg.
Eskom released its interim financial results for the period ended September 30, painting a bleak picture for the state-owned company’s liquidity.
Eskom’s six month year-on-year profit was reduced to R9.3-billion, with a projected year end profit of half a billion rand.
Meanwhile, municipal debt to the power producer rose to R4-billion.
The National Energy Regulator of SA (Nersa) approved tariff hikes that would provide an additional R7.8bn for the financial year 2015/2016. In addition, government pledged a support package, which included an equity cash injection of no less than R20 billion.
Tough times ahead for Eskom, SA
“We have to organise the country to attack these problems... Failure is not an option,” she said at Eskom’s Megawatt Park in Johannesburg.
Eskom released its interim financial results for the period ended September 30, painting a bleak picture for the state-owned company’s liquidity.
Eskom’s six month year-on-year profit was reduced to R9.3-billion, with a projected year end profit of half a billion rand.
Meanwhile, municipal debt to the power producer rose to R4-billion.
The National Energy Regulator of SA (Nersa) approved tariff hikes that would provide an additional R7.8bn for the financial year 2015/2016. In addition, government pledged a support package, which included an equity cash injection of no less than R20 billion.
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