File picture: Siphiwe Sibeko/ Reuters

Johannesburg - Eskom is focused on maximising revenue and reducing costs with a view to enhancing its financial stability, the power utility's group chief executive Phakamani Hadebe said on Friday.

“I want to emphasise that reducing costs whilst maximising revenue is key to our strategy. We have identified new revenue streams that will deliver an additional R1.5bn by the end of the financial year," Hadebe said. 

"Whilst this indicates the right trajectory, as Eskom management we acknowledge that this is not adequate. We have since identified other measures that will further reduce operating costs, included here are employee productivity levels of which employee benefits is part. This is being discussed at the highest decision-making levels of Eskom.”

Eskom said it has taken difficult decisions such as reducing capital expenditure from R55 billion to R45 billion, saving R10bn per annum. 

South Africa's power utility said it has further reduced operating costs to R132bn, a five percent decrease between the 2017 financial year and the 2018 financial year.

African News Agency/ANA