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Eskom’s Catastrophic Collapse: Death Knell for SA’s Economic Future


Eskom’s Epic Fail: R15-Billion Loss, But Hey, At Least They Stopped Wasting Diesel… For Now

In a move that’s as shocking as it is predictable, Eskom is about to announce a staggering R15-billion annual loss, according to the Financial Times. And, you guessed it, the main culprit behind this financial debacle is none other than the utility’s excessive spending on diesel.

Yes, you heard that right. Eskom blew a whopping R33-billion on diesel last year, which is just a fancy way of saying they’re still stuck in the dark ages. And what’s the result of this reckless spending? A whopping R15-billion loss that’s set to send shockwaves through the economy.

But don’t worry, CEO Dan Marokane is optimistic that things will turn around next year. In fact, he’s so confident that he’s predicting a return to profitability in 2025. "We’ve really cut down on diesel, so we should see a substantial financial improvement this year," he said. Substantial? That’s a generous way of putting it. How about "miraculous"?

And what’s the secret behind this sudden reduction in diesel spending? It’s not like they’ve suddenly discovered a new, more efficient way of generating power or anything. Nope, it’s simply because they’ve managed to maintain a streak of 100 consecutive days without load shedding. Wow, what an achievement!

But let’s not get ahead of ourselves. After all, Eskom’s priority is still bringing an end to those pesky power blackouts that have been devastating the economy. And how are they planning to do that? By pausing the blackouts, of course! Because nothing says "long-term solution" like throwing a Band-Aid on a bullet wound.

So, what’s the takeaway from all this? Eskom’s still a mess, they’re still hemorrhaging money, and we’re still stuck with a utility company that’s as reliable as a ticking time bomb. But hey, at least they stopped wasting diesel… for now.



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