South African state-owned power utility Eskom on Tuesday reported its first full-year profit in eight years thanks to government debt relief, higher tariffs and a sharp reduction in power cuts.
Eskom made profit after tax of 16.0 billion rand ($927.24 million) in the year to the end of March 2025, compared to a 55.0 billion rand loss a year earlier, its annual report showed.
“Government debt relief support, new tariff structures, higher sales linked to the operational turnaround and cost optimisation initiatives have contributed to Eskom recording its first profit in eight years,” the report said.
Eskom’s power cuts have held back South Africa’s economic growth for more than a decade, and its repeated bailouts have drained state coffers.
But the frequency of its power outages has reduced dramatically since early last year. There were just 13 days of power cuts in its latest financial year, compared to a record 329 days a year earlier.
