{"id":142199,"date":"2016-11-03T12:37:52","date_gmt":"2016-11-03T10:37:52","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=142199"},"modified":"2016-11-03T12:43:48","modified_gmt":"2016-11-03T10:43:48","slug":"eskom-revenue-surges-to-r97-billion","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/energy\/142199\/eskom-revenue-surges-to-r97-billion\/","title":{"rendered":"Eskom interim revenue hits R97 billion"},"content":{"rendered":"<p>Power utility Eskom has announced a 10.5% increase in revenue\u00a0 for the six months ended September 2016, to R97 billion.<\/p>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/government\/142161\/eskom-ceo-brian-molefe-implicated-in-state-capture-report\/\" target=\"_blank\">Under fire<\/a> CEO, Brian Molefe said that 99,869 additional households were electrified compared to 41,778 households for the comparative period\u00a0&#8211; an increase of 139%.<\/p>\n<p>Eskom has a total customer base of 5.8 million with 5.7 million residential customers.<\/p>\n<p>The chief executive highlighted an EBITDA of R31.5 billion, representing an increase of 23% compared to the same period in 2015, while cost savings amounted to R8 billion.<\/p>\n<p>Molefe said that cash generated from operating activities increased by 39% to R31.9 billion compared to the comparative period, while 86% of funding for 2016\/17 has been secured<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/11\/Eskom2016-e1478168352772.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-142203 size-new-size\" src=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/11\/Eskom2016-640x480.jpg\" alt=\"eskom2016\" width=\"640\" height=\"480\" \/><\/a>In July, the group said that bottom line profit for the year ending March 2016 was R4.6 billion.<\/p>\n<p>Revenue rose 10.6% to R163.4 billion. The public utility\u2019s EBITDA increased by 37.4% to R32 billion, up from R23.3 billion reported in the previous year.<\/p>\n<p><strong>Municipalities<\/strong><\/p>\n<p>Molefe said that primary energy costs decreased by 1.5%, compared to an average increase of 18% over the last 5 years, while overall electricity sales volumes increased by 1.2% over the reporting period.<\/p>\n<p>Arrear debt by municipalities, excluding interest, increased from R5.9 billion (September 2015) to R9.2 billion.<\/p>\n<p>The utility said that the collection level in the problem area of Soweto reduced from 18% (September 2015) to 14%. It said that 6,345 post-paid meters were converted to prepaid meters during the period in the area.<\/p>\n<p>Moreover, 12,123 smart meters were installed during the period in Midrand, Soweto and Sandton.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/11\/Eskom_2016-e1478168876732.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-142207 size-new-size\" src=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/11\/Eskom_2016-640x480.jpg\" alt=\"eskom_2016\" width=\"640\" height=\"480\" \/><\/a><\/p>\n<p>Eskom&#8217;s CEO also championed the fact that the country had gone more than 450 days without load-shedding. Molefe said that the company&#8217;s turnaround continues to stabilise the organisation. &#8220;Eskom is on sound and sustainable operational and financial footing,&#8221; he said.<\/p>\n<p>&#8220;We remain focused on bringing new capacity online,&#8221; Molefe said.<\/p>\n<h3 class=\"my-4\"><a  data-lightbox=\"post-image\" href=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/11\/Eskom-2016-e1478169087767.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-142211 size-new-size\" src=\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2016\/11\/Eskom-2016-640x480.jpg\" alt=\"eskom-2016\" width=\"640\" height=\"480\" \/><\/a>More on Eskom<\/h3>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/finance\/129174\/eskom-revenue-rises-10-6-to-r163-billion\/\"><strong>Eskom revenue rises 10.6% to R163 billion<\/strong><\/a><\/p>\n<p><a href=\"http:\/\/businesstech.co.za\/news\/general\/129968\/how-much-money-eskom-makes-per-customer\/\"><strong>How much money Eskom makes per customer<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Power utility Eskom has announced a 10.5% increase in revenue  for the six months ended September 2016, to R97 billion.<\/p>\n","protected":false},"author":10,"featured_media":77487,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9874],"tags":[1164,26],"class_list":["post-142199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-eskom","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/142199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=142199"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/142199\/revisions"}],"predecessor-version":[{"id":142223,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/142199\/revisions\/142223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/77487"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=142199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=142199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=142199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}