Lower demand for power and less likelihood of payment by consumers behind lower collection rate, says CFO
Eskom expects to take a more than R3bn hit to its revenue over the 21-day lockdown due to low demand for electricity and an anticipated lower collection rate as customers come under financial pressure, the power utility's CFO, Calib Cassim, said on Friday.
Lower revenue will to some extent be offset by lower costs as Eskom will not use its diesel-fired, open-cycle gas turbines and has taken several units offline over the lockdown. The extent to which the company is able to weather the storm will depend on how long the lockdown lasts, said Cassim.
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