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Electricity theft costs Eskom dearly

By Faeza
12 August 2015

The Eskom annual financial statement has revealed that thieves robbing the power giants of conductors, cabling and related equipment cost the utility R102m in the last financial year.

Eskom has been encountering a number of electricity thefts in the last few years, among the blows that have contributed to power shortages across the country.

The latest report indicates a 30% increase from the previous year’s R68m and amounted to between 3 730GWh and 5 968GWh for the 2014/15 financial year.

The financial report also revealed that Eskom’s profits had decreased by almost 50% to R3.6bn in the 2014/15 financial year ended 31 March 2015, constrained by load shedding.