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SOUTH AFRICA: Eskom Expected To Post ZAR15bn Annual Loss But Outlook Brightens

SOUTH AFRICA
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  • The Financial Times reported Eskom's annual loss for the latest year may amount to ZAR15bn. However, Eskom CEO Dan Marokane said that the outlook has improved amid a reprieve from rolling blackouts, which could allow the utility to record a profit in the year through March 2025 for the first time in almost a decade.
  • The Sunday Times reported that South Africa's Energy Ministry is looking to secure approval from the National Treasury for the construction of a 2,500MW nuclear power plant, larger than the existing Koeberg plant. Minister Kgosientsho Ramokgopa told the newspaper that he was hoping that the Treasury would greenlight the project by next month.
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  • The Financial Times reported Eskom's annual loss for the latest year may amount to ZAR15bn. However, Eskom CEO Dan Marokane said that the outlook has improved amid a reprieve from rolling blackouts, which could allow the utility to record a profit in the year through March 2025 for the first time in almost a decade.
  • The Sunday Times reported that South Africa's Energy Ministry is looking to secure approval from the National Treasury for the construction of a 2,500MW nuclear power plant, larger than the existing Koeberg plant. Minister Kgosientsho Ramokgopa told the newspaper that he was hoping that the Treasury would greenlight the project by next month.