Eskom presents its interim financial results on Thursday

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Eskom will on Thursday present its interim financial results amid certainty that the power utility’s dire situation will remain in 2020.

The tabling of the results comes a week after Eskom’s board announced Andre de Ruyter as its new CEO.

The financials will highlight some of the problems the embattled state-owned enterprise faced in the first half of 2019.

Energy experts believe Eskom is likely to announce billions in losses in its first half when it presents its interim results.

Energy expert at Energy Expert Coalition Ted Blom says he is also anticipating a loss of between R2 billion and R12 billion.

He says: “The reason I’m expecting a loss is because Eskom has complained bitterly that the previous tariff increase wasn’t adequate to cover their costs.”

“Eskom had to run its expensive diesel turbines over the last six months because of the drastic shortfall in electricity supply from its struggling coal-fired power stations.”

Analysts say Eskom is expected to continue facing liquidity constraints and increasing debt levels with flat sales growth in the next two years.