Eskom: Municipal debt has increased to R9.4-billion
Eskom says it's still owed more than R9-billion in outstanding payments by numerous municipalities across the country.
The figure was revealed during the power utility's interim results. Acting CEO, Johnny Dladla told reporters in Johannesburg that they're still engaging with affected municipalities to conclude payments.
Dladla says the parastatal is making good progress on its turnaround and cost-cutting efforts.
Dladla says the power utility's focus remains cutting costs while achieving maximum output.
"We achieved a bidder of R38-billion against the target of R30-billion. The revenue increased by 7,9% to R177-billion. Eskom's own generation costs decreased by 8,5% to R60-billion with total primary energy costs down by 2,3%," he said.
#Eskom details debt.
— Maryke Vermaak (@MarykeVermaak) July 19, 2017
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The utility says it surpassed its targets for the financial year.
Meanwhile, Eskom's board is set to take disciplinary action against former group CEO, Matshela Koko.
He was suspended earlier this year amid allegations of a possible conflict of interest for awarding a billion-rand contract to a company where his step-daughter was a director.
Acting chairperson, Zethembe Khoza says the Minister of Public Enterprises has been informed of this and this will follow normal labour relations processes.