Eskom expected to announce 2018/2019 annual financial results

SABC News Megawatt Reuters 1 - Eskom expected to announce 2018/2019 annual financial results

Eskom is expected to announce its 2018-2019 integrated annual financial results at the power utility’s Megawatt Park headquarters in Sunninghill, north of Johannesburg on Tuesday.

On Monday, Public Enterprises Minister Pravin Gordhan announced the appointment of Jabu Mabuza as the Interim Executive Chairperson for Eskom and Acting Chief Executive Officer (CEO) of Eskom Holdings.

Mabuza’s appointment follows the resignation of Phakamani Hadebe, who leaves the power utility on Wednesday.

Mabuza will assume the duo-role of GCEO and Executive Chairperson for a three month period, during which the process will be completed to appoint a new Group CEO.

Government has allocated R23 billion for each of the next three years and R59 billion worth of assistance has been granted by Finance Minister, Tito Mboweni.

Eskom has asked the High Court to review a price increase awarded by the National Energy Regulator of South Africa (NERSA), which the power utility doesn’t consider the cost of generating electricity.

Eskom was granted a 9.4% tariff hike in April, which is less than the 17% it requested.

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