This company is a legal monopoly power producer that has its tariffs determined by government. It's financial performance has got nothing to do with the quality of management. Revenue is simply a function of tariffs (allowed by government) multiplied by watts of electricity used.  Admittedly operating efficiencies could be influenced by management but even the world's worst operators could look good as long as the government allows tariff increases. Management deserve no credit (or financial incentives) unless they can demonstrate CONTROLLABLE COST (i.e., independent of fuel cost) efficiencies per Watt of energy generated or sold). There is no indication that this was the basis of bonuses paid. 

This requirement in the context of Eskom, however, is very ambitious. I think most of the public would be happy to pay bonuses if fraud and looting was limited to the same or a little less than the previous financial year.