Monday, 2 December 2024: Eskom is pleased to announce that the City of Tshwane has agreed to a payment arrangement to settle its outstanding debt of R6,661,123,246 (Six billion, six hundred and sixty-one million, one hundred and twenty-three thousand two hundred and forty-six) owed to the power utility.
Previously, Eskom had initiated legal proceedings against Tshwane over overdue bulk electricity supply payments, with hearings scheduled for 26 and 27 November 2024. However, both parties met and successfully negotiated a five-year payment plan, which was officially confirmed as a court order on 26 November 2024.
Under the terms of the payment plan, the City of Tshwane will make an initial payment of R400 million in December 2024, with the final payment due in March 2029.
This payment arrangement is subject to specific conditions:
• All outstanding accounts must be paid in full by their due dates (within 30 days).
• If the City of Tshwane does not comply with the payment plan or on current accounts, the agreement will be terminated, and the entire outstanding amount will become immediately due to Eskom.
“We are happy to have worked closely with the City of Tshwane to reach this agreement,” said Monde Bala, Eskom Group Executive, Distribution. “This arrangement is crucial for ensuring Eskom’s sustainability, supporting South Africa’s economic development, and reducing the financial burden on taxpayers,” he added.
ENDS
