President Cyril Ramaphosa’s declaration of a state of disaster over the energy crisis resorts to a measure that resulted in massive squandering of public funds.
Browsing: Eskom
The rand is headed for a fourth weekly loss versus the dollar. The currency’s underperformance is specific to South Africa.
Self-generation of electricity by businesses and households is likely to reduce rolling blackouts without compromising Eskom’s business model, a top economist said.
Consumers will face much higher prices unless the government urgently finds solutions to the power cuts that are crippling the economy, an industry group has warned.
Kenya Power aims to convert its 2 000 petrol- and diesel-driven vehicles to electric over the next four years.
Eskom needs debt relief in combination with tariff increases to survive, said CEO André de Ruyter.
South Africa has had 100 consecutive days of rolling blackouts, the longest stretch yet, with more to come as its electricity crisis deepens.
South Africa’s electricity crisis is costing the economy as much as R899-million/day, according to central bank estimates.
A floating electricity price would help to alleviate the chronic shortage of power in South Africa.
South Africa’s biggest business group urged President Cyril Ramaphosa to use an upcoming cabinet reshuffle to improve government’s performance.