Eskom suffered a net loss of R2.3-billion in 2018, the state-owned power producer revealed at it financial results presentation on Monday.
The power utility said its net cash from operations declined from R45.8-billion to R37.6-billion, as it struggled with leadership and operational challenges.
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The national energy regulator, Nersa’s public sessions on Eskom’s proposed tariff increase, are currently underway.
Eskom asks for an excessive increase of thirty percent to recover a R66 billion shortfall. Despite the shortages, Eskom continues to give excessive bonuses to its senior staff.
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The power utility had requested a 30% hike as part of its plan to recover tens of billions of rands lost to coal procurement, as well as the lower than expected electricity sales between 2014 and 2017, which some have labelled as the “Gupta years”.
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