Eskom doubles profit to R30.35 billion

Eskom has reported a marked improvement in its financial standing, with profit more than doubling from 2025 to 2026.

The state-owned power producer released its results for the year through March 2026 on Monday, 31 August.

These results showed that the group went from a R14 billion profit for the year in 2025 to a R30.3 billion profit in 2026, up 116%.

Eskom attributed this substantial increase to lower net finance costs as well as lower net fair value and foreign exchange gains/losses related to financial instruments.

Eskom’s net finance costs reduced from R34.07 billion to R31.89 billion, down 6.42%.

The state-owned enterprise (SOE) also benefited from operational improvements and targeted plant maintenance, which led to cost savings on primary energy.

Eskom reported an energy availability factor of 65.16%, up from 60.60% in 2025.

Another major factor in Eskom’s substantial profit increase is tariff increases, which significantly boosted its revenue.

The 12.74% average standard tariff increase approved by the National Energy Regulator of South Africa (Nersa) boosted Eskom’s revenue to R354.72 billion, up 4% from 2025.

This is despite a notable decline in sales, with Eskom’s sales volumes falling from 189.7 TWh in 2025 to 178 TWh in 2026.

Eskom cited industrial and mining sector pressures as part of the reason for this, saying the mining sector experienced unplanned shutdowns and shaft closures.

At the same time, energy-intensive industrial customers implemented smelter curtailments, further curbing demand.

Eskom also acknowledged the role of consumers increasingly switching to rooftop solar and self-generation.

The group said that accelerating solar installations across the residential, commercial, and industrial sectors directly reduced demand on the national grid.

The graphs below show how Eskom’s revenue and profit has changed over the past five financial year.