Eskom’s financial woes is expected to only get worse.
This, after the power utility announced that it posted a fifth straight loss and warned that the gap may widen. Its loss narrowed to R12.3 billion in March this year, from a restated R25-billion the year before.
Eskom’s debt fell by one percent to R396-billion by the end of March. The power utility’s CEO Andre de Ruyter says a loss of R201-billion is anticipated for the next financial year.
Now, Treasury has vowed to take on some of Eskom’s debt saying it cannot allow the State-Owned Entity (SOE) to fail.
