Eskom’s financial year 2024 results underscore the power utility’s efforts to stabilise operations amid South Africa’s energy crisis, but the looming municipal arrear debt remains an obstacle to long-term financial sustainability.
This was revealed at Eskom’s annual results announcement on Thursday for the financial year which runs from 1 April 2023 to 31 March 2024.
With municipal debt expected to surpass R110 billion by March 2025, Eskom pointed out the need for a sustainable solution alongside government debt relief efforts.
South Africa’s municipalities, plagued by years of mismanagement, owed Eskom R95.4 billion by November—an increase of 28% since the end of March.
Eskom chairperson Mteto Nyati spoke at length about the strides made under challenging conditions, crediting improved governance and operational strategies.
“Today’s challenging results demonstrate the extremely tough choices we had to take, for which we are experiencing the benefits of today. We have continued to deliver progress and
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