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Could This be the 61 year MAGIC Pill to Eskom’s Woes?

The recent Key Revision Number project to update all prepaid meters to continue accepting token codes after 20h15 on 24 November 2024 refers: Of Eskom’s 6.9 million meters registered, only 4.96 million Key Change Tokens had been issued as of Sunday morning. Among municipal electricity distributors, 239 302 meters were still outstanding. That is a …

The recent Key Revision Number project to update all prepaid meters to continue accepting token codes after 20h15 on 24 November 2024 refers:

Of Eskom’s 6.9 million meters registered, only 4.96 million Key Change Tokens had been issued as of Sunday morning.

Among municipal electricity distributors, 239 302 meters were still outstanding.

That is a total of 2 179 302 prepaid meters that have NOT been upgraded.

Let’s ASSUME that 50% of those meters are bypassed or using so-called ‘ghost tokens’.

That would mean that 1 089 651 prepaid meters are receiving ‘free’ electricity,

Times that number by a modest R550 per month of stolen value and you get a massive potential ‘windfall’ of R599 308 050 per month in additional revenue.

As of September 30, 2023, Eskom’s gross debt securities and borrowings were R442.7 billion. The government has committed R78 billion in debt relief for the 2024 financial year.

R599 Million in additional revenue per month would take Eskom 61.5 years to pay back all their debt!

And the figures above are based on conservative estimates.

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