On Monday, 2 December Eskom announced that the City of Tshwane has signed a payment arrangement plan to settle its R6, 661 123 246. (Six billion, six-hundred and sixty-one million, one-hundred and twenty-three thousand two hundred and forty-six) debt owed to the power utility.
Eskom had taken Tshwane to court for bulk electricity supply arrear debt and the matter was set down for hearing on 26 and 27 November 2024. However, the two parties met and agreed on a five-year payment arrangement plan. The payment arrangement was made an order of court on 26 November 2024.
In terms of the payment arrangement plan, the City of Tshwane has committed to make the initial payment of R400 million in December 2024, with the last payment scheduled for March 2029.
The payment arrangement plan is subject to the following conditions:
• All current accounts must be paid in full on or before their due dates (30 days),
• If the City of Tshwane defaults on the payment arrangement and the current accounts, the payment arrangement shall be terminated, and the full amount owing will become due and payable to Eskom immediately.
“We are pleased to have worked collaboratively with the City of Tshwane to reach this outcome,” said Monde Bala, Eskom Group Executive, Distribution. “This agreement plays a part in maintaining the sustainability of Eskom to drive the economic growth of South Africa and reduce our burden on the taxpayer,” he continued.
About Eskom and Electricity – Employees: Employs around 48,000 staff members.
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