Ramaphosa praises NECOM for Eskom's return to profitability

President Cyril Ramaphosa says Eskom’s return to profitability after eight years is thanks to the collaboration between different government departments led by the National Electricity Crisis Committee (NECOM).
 
Ramaphosa said that because of this collaboration and hard work by the leadership and staff of Eskom, Eskom was finally turning the corner.
 
Writing in his latest newsletter, Ramaphosa said that Eskom’s improved finances would allow the power utility to invest more in critical infrastructure and much-needed maintenance.
 
Eskom moved from the red to the black after several years of load shedding, leadership instability and state capture.
 
Eskom’s latest results show the power utility’s first full-year profit standing at R23.9 billion before tax for the 2025 financial year, recovering from a R25.5 billion loss in 2024.
 
President Cyril Ramaphosa said this was a testament to the value of "staying the course and to the benefits of partnerships".
 
He said that when he announced the National Energy Action Plan in 2022, the national power utility’s losses stood at R12.3 billion and its debt had ballooned to over R300 billion.
 
Ramaphosa said that because of the improved finances, there were now plans to invest more than R320 billion in expanding existing infrastructure.
 
He said the expansion of Eskom’s grid was central to getting more capacity, with plans to build approximately 14,000km of new transmission lines over the next decade.