ESKOM OWED R4.7 BILLION BY GAUTENG MUNICIPALITIES

Thu 05 October 2023:

Eskom announced on Wednesday that the municipal electricity debt in Gauteng continues to increase rapidly.

This as the City of Tshwane and City of Ekurhuleni jointly owe Eskom R4.7 billion as of 31 August 2023.

Tshwane has accumulated a debt of about R3.2 billion over July and August 2023 due to erratic payments, while Ekurhuleni’s debt is presently just under R1.5 billion, the state-owned power utility said.

“The payment patterns by both municipalities have deteriorated to concerning levels that further threaten Eskom’s liquidity, financial performance, and sustainability.

“The erratic payments by the City of Tshwane dating back to 2022 are alarming. Also of serious concern is the entrenched practice by the City of Ekurhuleni of settling its account late over the past six months,” said Eskom in a statement.

Despite all the avenues explored to recover the money, Eskom said both municipalities have failed to fully honour their payments and to comply with their electricity supply agreements.

– SAnews.gov.za

______________________________________________________________

FOLLOW INDEPENDENT PRESS:

TWITTER (CLICK HERE)
https://twitter.com/IpIndependent