The utility praised its members for guiding the power utility through what it described as one of the most challenging periods in its history.
The Board, led by Chairperson Mteto Nyati, is credited with laying the groundwork for Eskom’s operational and financial recovery after years of instability.
Nyati said the outgoing Board had steered Eskom through a period that required “difficult decisions, steadfast governance and structural reform,” culminating in the utility’s return to profitability after eight consecutive years of losses.
“Reviving Eskom was never a simple task, but one of national importance,” he said. “Through the Board’s firm planning and governance and Exco’s focused implementation, we stabilised the utility and rebuilt trust.”
Eskom posted a profit after tax of $940 million for the year ending March 31, 2025, a significant turnaround from the $1.40 billion loss recorded two years earlier.
The Board accelerated a review of the utility’s cost base and supported initiatives aimed at improving operational efficiencies within the framework of future single-digit tariff increases set by the National Energy Regulator of SA.
A key intervention was the Cost Optimisation and Revenue Enhancement programme, projected to deliver $6.56 billion in efficiencies over five years.
Operationally, Eskom says electricity supply reliability reached 96% in 2024/25, improving to 98% this year. The Generation Recovery Plan approved in 2023 restored an average of 7 800MW of capacity previously lost to unplanned outages.
The coal fleet’s Energy Availability Factor (EAF), which stood at 48.39% in 2022, reached the Board’s milestone target of 70% instantaneous EAF in July 2025 and has continued to improve, with the year-to-date figure now at 63.51%.
The Board’s tenure also coincided with improvements in Eskom’s credit ratings and strengthened investor confidence. These gains contributed to SA receiving its first sovereign credit upgrade in nearly two decades earlier this month, with S&P Global Ratings citing Eskom’s stabilisation as a key factor.
Group Chief Executive Dan Marokane said the Board’s term embodied “endurance, difficult trade-offs and unwavering focus,” adding that its guidance helped deliver visible improvements in daily electricity supply.
He thanked the outgoing members and welcomed the incoming Board, which is expected to drive Eskom’s next phase of reforms.
Eskom says the utility is now on a firmer financial and operational footing and better positioned to support SA’s long-term energy transition.
–ChannelAfrica–
