Rampant electricity theft is at the heart of Nelson Mandela Bay’s loss of more than R550m in revenue within the space of a year.
The staggering amount stands out on the city’s consolidated annual financial statement, contained in the 2019/2020 financial year report.
The metro has seen an exponential increase in land invasions in the past three years, but instead of cracking down, city bosses have promised to connect the invaders to the power grid.
The report, which points out that the electricity service should be making a profit of at least 15% but has been running at a loss since the 2018/2019 financial year, shows the metro is fighting an electricity battle on many fronts.
For more on this article, please visit HeraldLIVE.
Nelson Mandela Bay’s R550m power failure
Huge loss in revenue sparked by widespread theft of electricity
Image: WERNER HILLS
Rampant electricity theft is at the heart of Nelson Mandela Bay’s loss of more than R550m in revenue within the space of a year.
The staggering amount stands out on the city’s consolidated annual financial statement, contained in the 2019/2020 financial year report.
The metro has seen an exponential increase in land invasions in the past three years, but instead of cracking down, city bosses have promised to connect the invaders to the power grid.
The report, which points out that the electricity service should be making a profit of at least 15% but has been running at a loss since the 2018/2019 financial year, shows the metro is fighting an electricity battle on many fronts.
For more on this article, please visit HeraldLIVE.
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