Charges may be laid against those responsible for lying about Eskom's dealings with Gupta-linked company, Trillian, Eskom said.
The parastatal did not elaborate on this. It released a statement late on Tuesday following a meeting between its board members.
"Eskom board met today [on Tuesday] and deliberated on progress in regard to the various investigations and disciplinary processes underway," it said in a statement.
"The technical review matter will attract a charge against the responsible individuals once the facts have been confirmed."
It said a disciplinary process against four senior executives was continuing as charges had been laid against the individuals concerned. It did not comment further.
Hours before the meeting, Public Enterprises minister Lynne Brown instructed Eskom's board to put together a report on its dealings with Trillian within two days.
The instruction came after Eskom admitted it lied to journalists when it denied making payments totalling R1.6-billion to Trillian and global business consultancy, McKinsey.
In June, Eskom said Oliver Wyman, a New York based consultancy firm, concluded that all payments were above board. However, on Monday the parastatal admitted that Oliver Wyman in fact red-flagged the payments and recommended a legal review of the contracting process.