Eskom says large electricity supply debt racked up by municipalities is negatively affecting its financial performance.
“The overdue debt is impacting negatively on the public utility’s liquidity, financial performance and sustainability, leaving the public utility no option but to borrow in order to meet its financial commitments,” Eskom said. “[Eskom] has started with the execution steps against the municipality to recover some of the municipality debt including attaching the local authority’s bank accounts and moveable assets,” Eskom said.
Furthermore, the power utility said it had served the municipality a summons for non-payment of its R3.4 billion bulk electricity supply bill.
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