Eskom wants you to pay 20% more (despite increasing earnings by 14.4%)

Eskom has released its annual financial results on Wednesday.

Its earnings (before interest, taxes, depreciation and amortisation) increased by 14.4% to R37.5 billion in the year ended 31 March.

This is up from R32.8 billion in the same period last year.

Eskom’s revenue rose by 8% to R177 billion.

This is up from R164.2 billion in 2016.

The Money Show’s Bruce Whitfield interviewed energy expert Chris Yelland.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

Eskom is burning a lot of cash.

Chris Yelland, EE Publishers

Eskom has R350 billion in debt.

Chris Yelland, EE Publishers

The interest rate at which they’re borrowing is going up.

Chris Yelland, EE Publishers

Eskom wants a 20% increase [in electricity prices].

Chris Yelland, EE Publishers

The media briefing was categorised by a lot of evasion.

Chris Yelland, EE Publishers

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This article first appeared on 702 : Eskom wants you to pay 20% more (despite increasing earnings by 14.4%)


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