Eskom warns of another R23bn loss as loadshedding underpins R24bn collapse

Eskom has warned that it is likely to report another R23-billion-plus loss for its current financial year to the end of March 2024, having belatedly confirmed a loss of R24-billion (R12-billion) for its 2022/23 financial year, during which loadshedding was implemented on a record 280 days. Acting CEO Calib Cassim confirmed the dismal outlook during the release of the group’s results presentation, held seven months after the group’s official year-end. As with several previous reports, the statements were also qualified by the State-owned utility’s auditors.