Lydia Mathobela-Nhlapo
City Power has announced exceptional results for the 2023/24 financial year, marked by consistent quarter-on-quarter growth and a significant improvement in key performance indicators (KPIs). The utility’s focus on service delivery and revenue growth has driven this turnaround.
The fourth quarter saw an impressive 81.82% performance, bringing the year-to-date figure to 72.73% – the highest in five years. Key achievements include surpassing targets for streetlight installations, new electricity connections, and response times to outages.
Between April and June, City Power installed 1,256 streetlights, exceeding the target by 556. Additionally, 3,495 dwellings were connected to electricity supply, surpassing the goal by 295. The utility also secured 26.47MW of installed embedded generator capacity, well above the 9.50MW target.
Support for small and medium-sized enterprises (SMMEs) and job creation were priorities. City Power assisted 331 SMMEs, surpassing the 220 target, and created over 800 Expanded Public Works Programme jobs. Free basic electricity provision to vulnerable customers also exceeded targets.
Despite financial challenges, City Power recorded substantial revenue growth, rising from R4.1 billion to R6.3 billion in the fourth quarter. Efforts to improve service quality included restoring 560 out-of-service plants.
Cable theft and vandalism remain significant obstacles. A new security strategy, including enhanced technology, internal controls, and community collaboration, led to 132 arrests in three months – double the previous year’s figure.
CEO Tshifularo Mashava attributed the success to strategic changes, including a focus on customer needs, improved governance, and staff development. The introduction of Service Delivery Centres brought services closer to residents. City Power is also transitioning from an electricity company to an energy business to address the challenges of load shedding. Collaboration with the Gauteng Provincial Government is seen as essential for overcoming this issue.
Board chair Bonolo Ramokhele praised the team’s efforts but emphasised that more is needed to achieve long-term stability and financial performance.
SOURCED FROM THE JOBURG WEBSITE.
