Eskom rakes in R115bn from industry as power costs choke players

Deputy Editor

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Mining and industrial majors, the backbone of South Africa’s industrial base, paid Eskom R115bn for electricity in the 2025/26 financial year, nearly R50bn more than they paid in the 2021 financial year, as high power costs strangle high-energy users who are increasingly pleading for relief.

The data is revealed in Eskom’s 2025/26 annual report, published last week, which showed industrial demand plunged 22% in the past year (R8.8bn) as smelters curtailed production as electricity costs gobbled up about 40% of costs.

South Africa’s energy costs have surged more than 800% since 2007, hurting the country’s industrial base.