By Everson Luhanga
- Eskom spent R43.16-billion on salaries this year, up from R35.10-billion last year, while giving workers a 7% raise.
- Experts say high salaries and bonuses are pushing up electricity prices for ordinary South Africans.
The average Eskom worker has earned more than R1-million this year as the power company’s wage bill grew by almost a quarter.
Eskom’s latest report shows it spent R43.16-billion on staff, up from R35.10-billion last year.
The jump was caused by several factors. The company brought back its short-term incentive (STI) scheme, which added R4.2-billion to costs, and paid R1.2-billion in production bonuses – three times more than in 2024.
All workers, including management, also received a 7% pay increase, MyBroadband reported.
Eskom’s staff numbers grew from 40,625 to 42,030 by March, as the company filled critical and technical posts. Management said it plans to keep the total number of staff at around 42,600 over the next five years.
The average cost per worker rose to R1.03-million, up 12.4% from last year and far above the inflation rate.
Eskom said it made its first profit since 2018, but this was only possible because of a R64-billion government bailout. Without that support, the company would have recorded a R38-billion loss.
Executive pay also nearly doubled to R69.3-million this year.
Since 1990, Eskom’s average salary has increased by 2,610%, while inflation has gone up by only 812%.
If wages had followed inflation, the average worker would earn around R346,000 a year instead of more than R1-million.
Experts warn Eskom’s big wage bill and high executive pay are driving up costs, and that means higher electricity prices for everyone.
Pictured above: Eskom.
Image source: File
