No Christmas cheer expected in Eskom financials...

Jan

Jan

Who's the Boss?
Staff member
Joined
May 24, 2010
Messages
13,979
Reaction score
11,961
Location
The Rabbit Hole
Unpleasant shocks lie ahead in Eskom financials

Eskom’s prolonged delay in releasing its financial results for the year to 31 March 2022 probably means that some unpleasant shocks lie in store for its shareholder, debt holders and customers.

Eskom’s generation performance has been continually deteriorating for the last several years, which affects revenue and cashflow, while a resolution of its debt burden has still not been concluded.

[By Charlotte Mathews and Chris Yelland, EE Business Intelligence]
 
"Eskom had spent R11.2bn on diesel in the 2022/23 financial year from 1 April 2022 to 31 October 2022"

That is goddamn atrocious if you run the numbers.
It's at least 400 megalitres of diesel at the most expensive consumer pricing...

Or, for context, it's about 160 Olympic sized swimming pools of burnt diesel so we can still circle the drain.

1670312292583.png

Or, to put it another way: You can almost drive from JHB to DBN with a Land Cruiser.
 
Last edited:
Solarion said:
Need to privatize the darn thing.
Click to expand...

And then what? Run that scenario in your mind.
Eskom goes away, and only private companies provide power - who then provides electricity to the thousands that don't pay? Private companies won't. Maybe they follow the Vumatel - Vumareach model and provide different cost scales depending on where you are, but they will still pay, or get cut-off. Yes, they should pay, but in reality they probably won't and will instead riot. On a scale that will eclipse the Durban riots. I'm pretty sure this is the reason they keep debating surcharges for those not connected to the grid etc. they literally cannot afford that too many people leave the grid. Not to mention that solar panels and the infrstructure associated with it will become prime theft targets.

My theory at least.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter