Finance Minister Enoch Godongwana says Eskom’s debt-relief arrangement remains on schedule to conclude in 2025/26 against the set conditions.
He says of the R78-billion allocated in the first year, R4 billion has been provided to Eskom, while R16 billion was converted to equity after the power utility managed to comply with all the conditions for the first quarter of the year.
Godongwana says the report on the independent review of Eskom’s coal-fired power stations will be released in the coming week.
“It is through the combination of private investment in new energy projects, rooftop solar installations and improvements in Eskom’s generation fleet that load shedding will reduce and reliability and security of supply improve. In addition, to support these efforts, we are introducing a new R2 billion conditional grant over the medium term to fund the rollout of smart prepaid meters,” Godongwana explains.
Video: 2024 Budget Speech
