DailySun
Monday, 2 December 2024: Eskom is pleased to announce that the City of Tshwane has established a payment arrangement plan to resolve 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 utility provider.
Previously, Eskom had initiated legal proceedings against Tshwane regarding overdue payments for bulk electricity supply, with hearings set for 26 and 27 November 2024. However, both entities engaged in discussions and successfully agreed on a five-year payment plan, which was formalized as a court order on 26 November 2024.
Under the terms of the payment plan, the City of Tshwane is required to make an initial payment of R400 million in December 2024, with the final payment anticipated in March 2029.
This payment arrangement is subject to certain conditions:
• All current accounts must be fully settled by their due dates (within 30 days),
• If the City of Tshwane fails to comply with the payment plan or current account obligations, the arrangement will be revoked, and the entire amount owed will become immediately payable to Eskom.
“We are delighted to have worked closely with the City of Tshwane to reach this resolution,” stated Monde Bala, Eskom Group Executive, Distribution. “This agreement is crucial for ensuring Eskom’s sustainability, which in turn fosters economic development in South Africa while alleviating the financial strain on taxpayers,” he added.
ENDS
