Eskom improves loss to R18.9 billion

TheChamp

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We are in this together because people continue voting for the useless ANC, essentially condoning theft at the expense of the poor and the country.
We are in this together and the tax base is dwindling...guess where that will lead you.

We are in this together and some will overcome together. Not all considering those who have left/are leaving.
But what can we do, that's just how it is, we can either moan every day on MyBb about it or find away around it, unity is what we need.
 

ProfA

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R18 billion loss and some muppets still think its somehow positive news LOL.
 

Oldfut

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I should read it for myself but does someone know if they reduced the capital amount of their debt at all or were the debt costs just interest (debt servicing)?
 

TheChamp

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R18 billion loss and some muppets still think its somehow positive news LOL.
It is positive news, a muppet is someone who thinks a mountain of debt can be totally eliminated in one or two financial years.
 

brilliantt

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What caught my attention is debt reduction of 81 billion in a single year. Five more of this, and there'll be no debt.
 

brilliantt

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I should read it for myself but does someone know if they reduced the capital amount of their debt at all or were the debt costs just interest (debt servicing)?
The debt service costs are 31 billion. So, 81 - 31 = 50
 

Iwojima

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Shouldn't be too surprising even if load shedding has not improved.

De Ruyter was put in place to reduce overall debt and prepare the company for legal separation. He was also clearly instructed not to, as he predecessors have done when the heat is on, to delay maintainence in favour of avoiding load-shedding, thus making headway in the much needed maintainence cycle and securing future supply until such time as future generation comes online.

I don't find many opportunities to praise the direction taken by a SA ex-monopoly, but this is certainly one that is moving in a somewhat positive direction, instead of further and completely into the shitter.

/flamesuit on
 

Gordon_R

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I should read it for myself but does someone know if they reduced the capital amount of their debt at all or were the debt costs just interest (debt servicing)?

What caught my attention is debt reduction of 81 billion in a single year. Five more of this, and there'll be no debt.

Most of the debt reduction was due to one-off factors. It's good news, but will not be easy to repeat each year.
Confirming previous statements about a debt reduction, Eskom said gross debt and borrowings were reduced by R81.9 billion to R401.8 billion due to R56 billion in government support and strengthening of the Rand.
 

TheChamp

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What caught my attention is debt reduction of 81 billion in a single year. Five more of this, and there'll be no debt.
I doubt that would be there case unfortunately, there would have been plenty cases of obvious wastages like the expensive knee guards and blatant over inflated tenders which will have contributed to the high initial reduction, from here onwards I think it could be slow and painful.
 

grok

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We is our people and together is together.
'We' will only ever be part of 'our people' when Ramaphosa'll be begging the boers to come back Zimbobwe style since the ANC stuffed up farming like they did Eskom..

But as you were, you have no answers & no contribution you're only here to keep stirring **** for your masters.
 

TheChamp

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'We' will only ever be part of 'our people' when Ramaphosa'll be begging the boers to come back Zimbobwe style since the ANC stuffed up farming like they did Eskom..

But as you were, you have no answers & no contribution you're only here to keep stirring **** for your masters.
No answers and no contribution? That is very hurtful grok, especially coming from you.
 

Swa

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True.. but you have to ask yourself.. pragmatically, what should they do in this situation.

People love bitching about what happen, how it was “back in my day” ignoring the glaring obvious issues and sweeping all the crap under the carpet to say it was awesome.

Cool.. but it does not change the situation does it. Look at the ceo.. what can he do right now?

Reminds of the many project crisis meetings I’ve gotten dragged into attending in the past, you have the okes that want to throw toys out the got until everyone acknowledges their whine or previous grievances and shutdown org till they feel better, restart everything or you have the okes who just want to see what’s needed to keep things going such that the bigger fix can happen later.

The sales profit or better put, selling electricity for > cost to produce is good because it means the input cost drama is getting solved and so they can’t go to nersa and demand price changes. Doesn’t change their debt situation nor their liabilities, committed org restructuring etc but at least they slowly addressing things.

Or should they tomorrow pull the plug and we can have a blackout till some org builds everything again including transmission network.
The okes "who just want to see what’s needed to keep things going such that the bigger fix can happen later" always translates into putting a temporary fix in place indefinitely. The ones who want to put a permanent fix in order even if it's inconvenient is the ones we should be listening to. Sure Eskom reduced some debt but they're still increasing prices and loadshedding has gotten worse while planned and unplanned maintenance has gotten worse. It's not sustainable.

It would have been acceptable if we were making headway into IPPs but we're not.
 

Quicks

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How do I go about reporting Soweto for illegal electricity connections? Wonder what would happen...
 

Benedict A55h0le

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It is positive news, a muppet is someone who thinks a mountain of debt can be totally eliminated in one or two financial years.
Only in SA can "less than expected damage" be considered positive news. Eskom is in a death spiral, only an idiot (you) will call a slower fall a positive thing. The truth is its each man for himself, you better be able to afford a PV system or thieve electricity. Government has failed and there will never be affordable electricity supplied by government again.
 

TheChamp

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Only in SA can "less than expected damage" be considered positive news. Eskom is in a death spiral, only an idiot (you) will call a slower fall a positive thing. The truth is its each man for himself, you better be able to afford a PV system or thieve electricity. Government has failed and there will never be affordable electricity supplied by government again.
Not only negative but dishonest as well, if Eskom were to report that this financial year their loss was R20million worse than the previous year, that would be a slow fall, they have actually reported that they have experienced a 7.6% less loss compared to the previous year, that is an improvement, a slow one if you will but an improvement nonetheless, it's really not that hard people.
 

mojoman

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It is positive news, a muppet is someone who thinks a mountain of debt can be totally eliminated in one or two financial years.
A muppet is someone who still votes ANC thinking it will be different this time....
 

Tman543

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It's amazing how far we have fallen when we celebrate a decrease in loss of billions in the ONLY power utility in the country.
 
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