Eskom reported a profit of R30.3 billion for the 2026 financial year, double its previous result, even though it sold less electricity, according to iol.co.za. The state-owned utility’s earnings improved despite a drop in power volumes sold to customers.
The financial turnaround comes as Eskom also said it fully met winter electricity demand in 2026, as reported by Politicsweb. That marks a notable shift for a company that has struggled with rolling blackouts in recent years.
However, analysts caution that the utility is not yet out of trouble. Moneyweb lists three warning signs that Eskom’s challenges remain, while MyBroadband argues that the company’s past problems are beginning to catch up with it. These reports suggest the profit figure may not tell the full story.
Additional reporting from businesstech.co.za highlights that a senior figure at Eskom, tied to rising electricity prices, received a R13.52 million payout. The same outlet notes that government is targeting homeowners in a small town, though details on that matter remain limited.
The profit increase is likely driven by higher tariffs rather than increased demand, given that sales fell. Eskom’s ability to sustain this financial performance will depend on whether it can keep the grid stable and manage cost pressures.
What to watch next: whether Eskom’s profit growth can continue without further price hikes that burden consumers.
