Eskom postpones results again

ESKOM has postponed the announcement of results for the six months to September until early next year, the power utility said yesterday.

Eskom, initially scheduled to release the delayed results before the end of this month, according to chairperson Zethembe Khoza.

They will lay bare the extent of Eskom’s financial problems. Reports are that the utility was sliding towards bankruptcy. Khoza said Eskom would pay January salaries.

In a statement yesterday, the power utility said it had postponed the results “in order to afford us the opportunity to review the impact of the 5.23 percent price increase, as well as to allow the newly appointed board members sufficient time to review the financials.

“Eskom is assessing the impact of the lower-than-anticipated tariff increase for the 2018/19 financial year approved by the National Energy Regulator of SA (Nersa) last week Friday,” Eskom said.

Nersa approved an allowable revenue of R190 billion. – Siseko Njobeni