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President Cyril Ramaphosa has appealed to Eskom to suspend its biggest electricity price increase in more than a decade.
The rand weakened early on Monday, as power utility Eskom extended scheduled electricity cuts.
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Eskom will impose load shedding on a continuous basis for at least the next two years, board chairman Mpho Makwanan has warned.
CEO André De Ruyter also reaffirmed that power cuts would continue for two more years at least.
US technology stocks are about to hit their next hurdle when earnings season gets under way in the coming week: vanishing profits.
The result of Eskom’s woes is that South Africans are increasingly being forced to explore alternative sources of electricity.
The Turkish company seeking to supply 1.2GW of power to South Africa will get a decision on its application to proceed with the projects by 7 March.