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State-owned power utility Eskom has reported a net loss of R18.9 billion. It says Covid-19 impacted performance sales with volume down 6,7%. Announcing the company’s interim results this afternoon, CEO André de Ruyter also confirmed a 4.5% reduction in headcount. And despite government support of R56 billion, the power utility is still battling about R400 billion debt burden which it says has affected their financials.
Energy analyst Ted Blom joins us live for some more on this story.
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