Although Eskom has reported a net loss after tax of R20.7bn for the 2019 financial year, analysts say it is still less than what was anticipated. The power utility blamed the loss to a lower-than-expected 5.23% tariff increase, a 1.82% decline in sales volumes, an above-inflation wage settlement with unions, and an increase escalating municipal debt. These results were the last for outgoing CEO Phakami Hadebe who's last day in on the last day of July.
Eskom Chair Jabu Mabuza will take over as Acting CEO until a permanent replacement is found. Our reporter Liabo Setho spoke to Energy Analyst Ted Blom to get his view on Eskom's latest set of results and other issues.
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