JOHANNESBURG, November 3 (ANA) – Eskom on Thursday reported a 10.5 percent increase in revenue year-on-year to R97.1bn for the six months ended in September due to a 31.6 percent increase in electricity exports to Botswana, Namibia, Zambia and Zimbabwe.
Releasing Eskom’s interim financial results on Thursday, group chief executive Brian Molefe said Eskom continued to further stabilise the business with improved operational and financial performance, and almost 15 months of no load shedding.
Earnings before interest, tax, depreciation and amortization (EBITDA) surged 23.1 percent to R31.5 billion.
Overall electricity sales were 1.2 percent higher than in the same period last year.
Molefe said Eskom was was now delivering excess electricity capacity to help stimulate South Africa’s economic growth.
Electrification connections increased by 139 percent to 99 869, with Ingula Units 4, 2 and 1 in commercial operation, generating 999MW peaking power and Medupi Unit 5 synchronised to the national grid, generating 794MW.
“Our 5-year plan to the 2020/21 financial year aims to re-establish Eskom as a catalyst for economic growth, and not a constraint to the country’s future growth,†Molefe said.
“Eskom is gearing itself up for even better results overt the rest of the year, during which period our focus will be placed on building the required infrastructure, while also continuing to electrify households across the country.â€
Molefe said Eskom was aiming to achieve 200,204 connections by year end, against the target of 169,722 that has been set by the Department of Energy.
“With the anticipation of additional surplus capacity in the coming months and years, Eskom is focusing on signing long-term power supply agreements with regional partners. Engagements with utilities and mining houses active in the region have commenced,†Molefe said.
– African News Agency (ANA)
