Eskom in huge trouble as profit drops a whopping 89%

[werny]

BEE <-- the root cause of the problem

 

[Pitbull]

We now see why they said they're entitled to 90% increase



But, thats on you... you told people not to use it, you then increased prices so people use even less... and you forced those who can afford it to go off grid... all on you... you want more sales and more profit, cut the price, become cheap and 'attractive' again for manufacturing etc... but I'm just speaking to a brick wall... go ahead, increase prices, **** yourselves over... monopoly losing market share with no competition

Sales dropped by 8% yet they lost 89% of profit? HTF?

Strangest thing these idiots don't realize: You increase the price, we use less. And we make other plans... They don't get it...

 

[Cube3]

Increase in operating costs / diesel purchases to offset the k@k Gupta coal etc.

 

[werny]

Sales dropped by 8% yet they lost 89% of profit? HTF?

Strangest thing these idiots don't realize: You increase the price, we use less. Ad we make other plans... They don't get it...

Exactly, cannot even remember when last we used our stove, 50% of the time we use the braai, or gas to cook, since buying myself a Gas Cylinder I've been using the sh*t out of that thing. I used to buy around R600 prepaid electricity, it's now down to between R350 and R400pm.

 

[Cube3]

Exactly, cannot even remember when last we used our stove, 50% of the time we use braai or gas to cook, since buying myself a Gas Cylinder I've been using the sh*t out of that thing. I used to buy around R600 prepaid electricity, it's now down to between R350 and R400pm.

Recently got a gas stove and geyser, my elec costs are down 66%.

 

[SauRoNZA]

If the profits are kept as reserve for future maintenance, projects, etc then I think its fine.
But if its over and above reserves then im in agreement with you.

Yeah that’s what I mean they shouldn’t be showing a profit above and beyond their future plans.

Profit should not be their driving force, service delivery should be.

 

[SauRoNZA]

Can someone please explain to me how the fark if you keep on adding new connections to the grid, that you make less profit by 89%.

And just to be clear, they are still showing a profit, it's just 89% less than last year this time.

Precisely what I’m getting at.

Isn’t 11% more than enough for an SOE that should be service delivery first?

Those 11% should go straight back into improving the company and service delivery and nowhere else.

 

[xrapidx]

Bonuses all round

 

[The_MAC]

Recently got a gas stove and geyser, my elec costs are down 66%.

Don't worry, they will find a way to get you - a nice levy on your gas installation, gas price, solar levy etc. They won't let you get off so easy

 

[NarrowBandFtw]

Is it appropriate to lol right now?

Depends, do you typically lol when receiving ass rams?
Because they WILL hike rates to compensate for this.

 

[Craig_]

thievery <-- the root cause of the problem

Ftfy

 

[Lew Skannen]

This does not bode well for us tax payers come 2019.

 

[Gaz{M}]

Loss predicted to be above R12 Billion by March 2019.

That means a tax payer bailout.