Molefe outlined the utility's integrated annual results in Johannesburg earlier today.
Molefe says despite falling profits, Eskom is on a path to financial recovery. He says cost effective electricity prices, continued internal savings and debt collection will ensure steady recovery.
The bulk of the debt comes from municipalities, who owe the power utility R4-billion, with Soweto owing R3.8-billion.
The power utility is also seeking a R2-billion penalty from Glencore's Optimum Coal Mine because of the poor quality of its coal and “shoddy performance”.
Molefe has assured South Africans Eskom is not in a hopeless situation, adding the country will see minimal load shedding in future.
(File photo: Gallo Images)
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