Eskom reports R30.3 billion profit for year ended March 2026

by Rhaees Hanslo

In a financial milestone that highlights a dramatic operational shift for South Africa’s state power utility, Eskom has reported a massive annual profit of R30.3 billion for the financial year ended March 2026.

The announcement marks a substantial turnaround for the power giant, showing a doubling of profits as operational improvements, reduced diesel spend on open-cycle gas turbines (OCGTs), and sustained grid stability take hold across Mzansi.

Also see: Eskom tariff increase approved by regulator for 2027

While the financial figures signal welcome news for government balance sheets and institutional investors, the announcement has met a far colder reception from everyday consumers facing soaring cost-of-living pressures.

Inside Eskom’s financial turnaround

The reported figures reflect a stark contrast to previous years of severe load shedding, mounting debt, and heavy operational losses. According to financial breakdowns of the utility’s turnaround, key drivers behind the R30.3 billion profit include:

  • Improved generation capacity resulting in a sharp drop in unplanned breakdowns across major coal-fired power stations, leading to prolonged grid stability.
  • Drastic reduction in diesel burn decreasing reliance on costly OCGTs to keep the lights on, saving the utility billions in emergency fuel expenses.
  • Tariff adjustments: the cumulative impact of National Energy Regulator of South Africa (NERSA)-approved electricity tariff hikes over successive financial cycles.

Eskom executives noted that the turnaround strategy focuses on long-term sustainability, ensuring the utility can fund its own maintenance and transition initiatives without relying endlessly on taxpayer-backed government bailouts.

Also see: President Cyril Ramaphosa deploys SANDF to protect Eskom power stations

“We doubled the price per unit”: South Africans react online

Despite the corporate celebration, the news triggered instant backlash across social media, where South Africans expressed deep frustration over rising municipal bills and electricity costs. On X (formerly Twitter), news reports declaring that “Eskom annual profit doubles as turnaround takes hold” were met with widespread scepticism and anger from consumers who feel the profit comes directly out of their pockets.

Replying to the financial headlines, many users pointed out that higher profits are a direct result of steep tariff increases rather than pure operational efficiency.

“Why wouldn’t it double when they’ve doubled the price we pay per unit?” questioned one popular post on X, summarising the sentiment of millions of households struggling to stay afloat.

Others voiced concern that recording billions in profits while citizens struggle to afford basic monthly electricity units highlights a disconnect between state-owned enterprise targets and the economic reality on the ground.

Picture: Getty Images/Foto24

The road ahead for electricity consumers

While Eskom’s return to profitability provides crucial stability for South Africa’s broader economic outlook and credit rating prospects, public pressure is mounting on regulators and energy officials to address affordability.

As Mzansi navigates the ongoing transformation of its energy sector, consumers remain focused on a simple bottom line: ensuring that corporate financial recovery translates into affordable, reliable electricity for every household.

Also see: ‘This does not seem right’ – Mzansi shocked by Sizwe Dhlomo’s electricity bill

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