Tag: power utility
South Africa’s Eskom has offered some managers voluntary severance packages, capping costs at 400 million rand ($26.8 million), a communique sent to staff by the struggling power utility showed.
South Africa is planning to create a new power generating company separate from struggling state-owned utility Eskom to boost energy security, senior officials said on Thursday.
Despite Eskom promising South Africa that it will not experience load shedding today, the struggling state-owned power utility says its plants remain severely constrained and could inevitably result in stage 6 load shedding which has happened once in the country, but the question remains – are we ready to normalize stage 6 load shedding and what does it mean for South Africa and the economy? Energy Analyst and Managing Director at EE Business Intelligence, Chris Yelland joins CNBC Africa for more.
Eskom's new chief executive took charge of the struggling state-owned utility on Monday, embarking on the mammoth task of fixing South Africa's power deficit and restructuring a debt pile that has crippled the national economy.
Plagued by power cuts and with its infrastructure in desperate need of revamping, South Africa’s struggling state power utility Eskom says the country desperately needs an additional 5,000 megawatts (MW) of generating capacity.
"We regret and sincerely apologise that stage 4 loadshedding will move to Stage 6 loadshedding as from 18:00 today, as a result of a shortage of capacity" - Eskom
What you need to know about South Africa approving $4 billion bailout for debt-laden power utility Eskom
Crisis-hit South African power company Eskom was handed an additional 59 billion rand ($4 billion) lifeline by parliament on Tuesday, prompting criticism from opposition parties who described it as a "blank cheque".
South Africa's rand tumbled after state power utility Eskom said it would implement nationwide blackouts for the first time in more than six months due to capacity shortages.