Electricity consumers cannot continue to fill Eskom’s piggy bank, says AfriForum

Eskom’s announcement of its R30,3 billion profit for the 2025/2026 financial year, coupled with soaring electricity prices over the years have yet again proven that consumers are being exploited to fill the power supplier’s pockets. AfriForum says it is time that Eskom stop pursuing additional revenue and start translating its improved financial position into meaningful relief for consumers who have endured years of load shedding and escalating electricity costs.

AfriForum today staged a protest action at Eskom’s head offices to highlight the growing public frustration over excessive electricity tariffs, mismanagement and the continued financial burden placed on consumers.

AfriForum symbolically delivered a piggy bank to Amos Mboweni, General Manager at Eskom, together with a memorandum outlining five major objections to the utility’s financial decisions and electricity pricing practices. The memorandum represents the interests of AfriForum’s more than 300 000 members and the 750 South Africans who signed its petition against rising electricity tariffs.

“South Africans are being forced to tighten their belts, cut back on basic necessities and sacrifice their standard of living just to keep the lights on. Meanwhile, Eskom celebrates billions in profits and continues to reward management with bonuses. Ordinary consumers cannot be expected to remain Eskom’s financial safety net indefinitely,” says Deidré Steffens, Advisor for Local Government Affairs at AfriForum.

A central issue raised in the memorandum is the ongoing legal dispute involving AfriForum, Eskom and the National Energy Regulator of South Africa (Nersa) over approximately R58 billion in additional allowable revenue. AfriForum questions why Eskom continues to seek billions more from electricity consumers while reporting substantial profits and management bonuses.

The memorandum also highlights the massive cost overruns at the Medupi and Kusile power stations, Eskom’s continued reliance on ageing infrastructure and the absence of sufficient certainty about the long-term affordability of electricity. AfriForum further challenges the increasing fixed electricity charges facing certain solar power users, many of whom invested substantial amounts in alternative energy after years of unreliable electricity supply.

“Consumers have already paid an enormous price for Eskom’s failures. They suffered through load shedding, spent their own money on alternative electricity solutions and are now expected to continue paying more. Eskom must explain when its financial recovery will start benefiting the people who ultimately pay its bills,” says Steffens.

AfriForum formally requested that Eskom provide comprehensive written responses to each of the five demands contained in its memorandum. These include explanations regarding Eskom’s financial performance, the additional R58 billion in revenue, management bonuses, project cost overruns, long-term infrastructure planning and fixed charges for solar power users.

“Consumer’s financial resources are not unlimited, and Eskom must be held accountable for all its financial decisions. That is why AfriForum is saying: Eskom, find yourself another piggy bank,” concludes Steffens.