File: The company was able to reduce its debt to about R464-billion from around R484-billion in March. eNCA
JOHANNESBURG - Eskom has painted a gloomy picture of a company living beyond its means.
The power utility announced its financial results for the six months to September.
Plagued by corruption as part of the state capture project, Eskom is now struggling to keep head above water.
CEO Phakamani Hadebe says he cannot guarantee to keep the lights on for the rest of the year.
Meanwhile, Eskom chairman Jabu Mabuza said the power utility is in a precarious financial position, with huge debt levels and constraints in revenue.
Municipal debt has ballooned to R17-billion with hopes a solution will soon be found.