Eskom’s Shortfall Expected To Be R10 TO R20 Billion – OUTA

Civil rights group the Organisation Undoing Tax Abuse (Outa) says it expects a shortfall of between R10 and R20 billion when Eskom releases its interim financial results this week.

The power utility has vowed to release the results before the end of the month to avoid its bonds being suspended by the JSE.

Ratings agency Moody’s downgraded Eskom’s credit rating on Friday, saying it reflected the deterioration in the utility’s financial and liquidity position.

Outa’s energy specialist Ted Blom says he’s expecting a major shortfall.

“All I can assure you is that there’s going to be a massive shocker. I’m expecting a hole of between R10 to R20 billion that was semi-disclosed at the previous financial results, in the documentation but not in the presentation.”