Eskom's financial sustainability at risk as municipalities rack up R119 billion in unpaid bills
Power utility Eskom has revealed that municipal debt has grown to R119 billion, warning that the rising unpaid bills pose a major challenge to its financial sustainability and ability to meet its debt obligations.
IOL previously reported that debt continues to pile up despite government interventions, with municipalities across the country owing Eskom billions in unpaid electricity accounts.
The utility has warned that the growing arrears are placing increasing pressure on its finances.
The utility revealed this as it welcomed President Cyril Ramaphosa’s statement on the first phase of the Eskom Restructuring Task Team’s work, which focuses on the establishment of an independent state-owned Transmission System Operator (TSO) as part of government’s plans to reform the electricity sector.
