{
  "id": 5059334,
  "title": "South Africa’s Eskom Doubled Its Annual Profit to US$1.88 Billion While Selling Less Power",
  "url": "https://urgent.news/2026/09/02/south-africas-eskom-doubled-its-annual-profit-to-us-1-88-billion",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-02T08:48:34.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/eskom-annual-profit-fy2026-falling-sales/"
  },
  "original_language": "en",
  "account": "South African power utility Eskom saw its annual profit more than double to US$1.88 billion in the 2026 financial year, marking the second consecutive year of profit after eight years of losses. The increase was driven primarily by a 12.74% average tariff hike granted by energy regulator Nersa, rather than higher electricity sales. Fuel costs rose 1%, while depreciation and diesel spending both contributed positively to the bottom line. However, sales of power fell by 6.2% to 178TWh from 189.7TWh, a decline attributed to factors such as smelter curtailments, mining shutdowns, weaker demand recovery, and increased solar installations. Eskom is attempting to address the declining sales by seeking out new load rather than relying solely on price increases, through concessionary pricing deals and expanding wheeling arrangements with independent generators. The utility faces financial challenges, including municipal arrears and debt service costs, which it acknowledges in its financial statements. Despite these issues, Eskom secured a loan conversion to equity in August and has received favorable ratings from Fitch and Moody's. The restructuring of the grid and potential demand growth in the data center sector are seen as key factors for future growth and investment.",
  "summary": "Eskom's profit after tax more than doubled to R30.3 billion (US$1.88 billion) in the year to March, while electricity sales fell 6.2% to 178TWh. The post South Africa’s Eskom Doubled Its Annual Profit to US$1.88 Billion While Selling Less Power appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}