While Nedbank CEO Mike Brown is optimistic, the government will have to make hard decisions, with the burden ultimately falling on the South African public to shoulder the bill.
Browsing: Energy and sustainability
Eskom has only managed to meet peak demand with its own fleet on 49 of the 106 days between the most recent instance of load shedding on 23 March, and 7 July.
Eskom said pollution reduction equipment at its biggest operational plant hasn’t been working properly since early last year.
A proposal by the biggest owner of Eskom’s debt to convert its R88-billion holding into equity has become a rescue option as South Africa seeks to restructure the troubled power utility.
South Africa’s troubled state-owned power utility has yet another thing to worry about – a big carbon tax bill expected to kick in from 2023.
A new fixed surcharge of R200/month means that City of Johannesburg residents who use prepaid electricity will see actual increases of up to 66% in the cost of power from this month.
The risk of South Africa’s struggling state power utility going bust doesn’t appear to faze one of its biggest creditors: the World Bank.
Government is putting the final touches on a R230-billion bailout package intended to get its debt-stricken state power utility back on track. Except it won’t be nearly enough.
President Cyril Ramaphosa is considering whether to back a proposal to improve troubled Eskom’s debt terms by closing polluting coal plants early to make way for renewable energy.
The pressure on Eskom to curb emissions is yet another reason why the utility has become the biggest headache for President Cyril Ramaphosa.