31 August 2026
The African National Congress (ANC) Parliamentary Caucus welcomes Eskom’s second consecutive year of profitability, describing the 2026 financial results as a significant milestone in the turnaround of South Africa’s electricity sector and evidence that decisive government intervention, sound leadership, operational discipline and sustained investment are delivering results.
Eskom recorded a R30.3 billion group profit after tax for the financial year ended 31 March 2026, up from the restated R14.0 billion in 2025, while its EBITDA margin increased to 30.63% from 28.75%. These results are particularly significant given the utility’s financial and operational difficulties of recent years.
The ANC Caucus congratulates the Minister of Electricity and Energy for providing political leadership in driving the turnaround strategy, and commends Eskom’s Board, management and workers for translating this strategy into measurable operational and financial improvements. We have confidence that this recovery, if sustained, will further strengthen Eskom as a strategic public asset at the centre of South Africa’s economic development.
Most significantly, South Africa has gone more than a year without load shedding, with only four days, totalling 26 hours, recorded during the 2026 financial year. This restoration of energy security provides greater certainty to households, businesses, workers and investors, while supporting economic growth. Government’s debt-relief support has been a critical enabler of this recovery, freeing operational cash for reinvestment, particularly in the generation recovery programme.
Improved liquidity and Eskom’s first credit-rating upgrade in more than a decade further demonstrate growing confidence in the utility and will support access to capital at lower borrowing costs.
The economic benefits are substantial. The CSIR estimated that load shedding cost the economy up to R2.8 trillion in 2023. Its dramatic reduction as electricity reliability improved demonstrates why a financially and operationally sustainable Eskom is essential to economic growth.
The ANC Caucus welcomes Eskom’s commitment to reinvesting profits in generation reliability, grid expansion, distribution, renewable-energy integration and decarbonisation, while working with government to address electricity affordability and keep price increases within single digits. We remain confident in Eskom’s recovery. This is no longer simply about stabilisation; it is about transforming Eskom into a financially sustainable, competitive and future-ready public utility capable of powering inclusive economic growth and development.
ISSUED BY THE AFRICAN NATIONAL CONGRESS PARLIAMENTARY CAUCUS
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