![\"Eskom](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2014\/08\/Eskom-CEO-salaries.png\")
<\/a>Eskom CEO salaries<\/p><\/div>\n
In June, Eskom reported a net profit of R7.1 billion for the year ended March 2014, up from R5.2 billion in the previous year.<\/p>\n
However, earnings were significantly less than the R12.2 billion reported for the six months ended 30 September 2013.<\/p>\n
<\/a>Eskom profits<\/p><\/div>\n
Overlayed, this is the picture of Eskom’s CEO’s pay versus the company’s reported profits since 2002.<\/p>\n
Despite the reported profit, however, Eskom is in a deep financial crisis.<\/p>\n
Municipalities around the country owed Eskom R10.8 billion at the end of June, according to Co-operative Governance Minister Pravin Gordhan – and according to Public Enterprises Minister Lynne Brown, the group needs to find R250 billion or it could get cut to junk credit status.<\/p>\n
According to Reuters, the utility is in talks with a number of banks for a secured syndicated loan of up to $1 billion.<\/p>\n
Nersa also recently approved the regulatory clearing account (RCA) for Eskom, allowing it to recover R7.8 billion in revenue – a measure which could see electricity prices climb by as much as 14% in 2015.<\/p>\n
Eskom initially sought approval to recover R18.3 billion.<\/p>\n
Eskom declared four power system emergencies during the year. On 6 March 2014, after having declared an emergency, Eskom had no choice but to implement load shedding for the first time since 2008, while to-date, the power situation on a national level remains strained.<\/p>\n
More on Eskom<\/h3>\n
Eskom finally gets a new CEO<\/a><\/strong><\/p>\n Eskom goes in search of $1 billion<\/a><\/strong><\/p>\n City Power denies R1.08 billion Eskom bill<\/a><\/strong><\/p>\n