Eskom lifts profit 22% despite volume fall

[miningmx.com] – ESKOM, South Africa’s power utility, reported a 22% increase in interim profit ended September 30 even though electricity volumes declined to 107,307 gigawatt-hours, a fourth straight first-half decrease, said Bloomberg News.

Primary energy costs, which mainly comprise the coal that the utility burns to generate electricity, climbed 7.7% to R41bn, while total operating expenses increased 7% to R71.3bn, the newswire said.

“We are progressing well in the maintenance of our power generating plant whilst keeping the electricity system stable,” said Brian Molefe, CEO of Eskom in a statement.

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