South Africa is considering doubling the amount of electricity it plans to buy from a proposed multibillion-dollar hydro power plant in the Democratic Republic of Congo.
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Government is pushing Eskom, the power utility with R419-billion in debt, to present a credible turnaround strategy before the 20 February budget presentation, a person familiar with the situation said.
Eskom expects to report a loss of more than R15-billion in the year to 31 March, a record for any state-owned company.
Eskom will extend its strategy of trimming top executive positions to include lower ranking managers and finally the general workforce, according to a person familiar with the plans.
The failure of energy regulator Nersa to register small-scale solar photovoltaic installations in Eskom electricity distribution areas is costing farmers dearly, says Ig du Plessis, director of power consultancy Sonfin.
Eskom may need to reinstate rolling power cuts after factories and businesses reopen following the summer holiday period, said CEO Phakamani Hadebe.
President Cyril Ramaphosa has signalled he doesn’t back a proposal from the struggling state-owned power utility for the government to assume a large portion of its debt.
Eskom is said to be considering the sale of smaller assets as the state-owned power utility weighs solutions to a liquidity crisis that contributed to a wave of rolling blackouts.
There is unlikely to be any further load shedding until at least mid-January 2019, Eskom said in a statement on Thursday.
Eskom should consider selling two coal-fired plants that rank among the world’s biggest to repair the state-owned utility’s finances, according to the head of South Africa’s biggest bank by market value.