Eskom warned that its maintenance plan must be supported by the government or South Africa can expect regular blackouts from power cuts of 8GW by mid-2021, a move that would cripple the economy.
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President Cyril Ramaphosa said his administration’s drive to turn the economy around will be protracted and is being frustrated by the rapid spread of the coronavirus.
Cosatu expects a plan that it’s proposing to save Eskom from its debt burden to be ready within weeks, said the labour federation’s parliamentary coordinator.
South African companies have announced plans to cut more than 10 000 jobs less than three months into 2020 with electronics company Ellies the latest to start the process of reducing its headcount
Mathematical modelling can be used to show that increasing tariffs, which encourages consumers to invest in alternative energy supplies, puts Eskom at risk.
Eskom is making preparations for a 3GW gas-fired plant, but the debt-stricken utility is still awaiting formal guidelines from the government before it can proceed with the project.
Haemorrhaging cash and drowning in debt, South Africa’s state power utility is trying to persuade the energy regulator to allow it to raise its prices to offset lower-than expected sales and unforeseen expenses.
Eskom is battling to keep all the units of its biggest operational power plant open after being served with a compliance notice by South Africa’s environment ministry because of its high levels of air pollution.
Finance minister Tito Mboweni’s budget this week is unlikely to convince Moody’s Investors Service that he has a credible plan to rein in government debt.
The JSE-listed City Lodge Hotels group has invested about R20-million in solar energy at 25 of its hotels and is planning to expand the initiative to a further 12.