12 August 2015
Eskom released their annual financial statements yesterday and announced that residential debt continued to escalate, particularly in Soweto.
Soweto payments received during the year amounted to R 119 million, compared to billing for the same period of R 730 million, creating a shortfall of R 611 million, reflecting an average payment level of 16%.
Municipal debt increased from R 2.6 billion at 31 March 2014 to R 5 billion at 31 March 2015.
Eskom says independent power producers are now providing 1.8 gigawatt of electricity to the national grid and it has experienced a decline in sales to industrial markets such as mining.
The financial results showed that Eskom made a profit, but still needs to borrow about R 20 billion from the domestic market and international bonds.
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