JOHANNESBURG - South African power utility Eskom warned of a second day of power cuts on Thursday citing a number of generating units still out of service.
A day earlier Eskom imposed its first power cuts in around seven months, highlighting the challenge facing President Cyril Ramaphosa in rescuing the state company. “Contingency measures have been put in place to manually feed coal to Medupi whilst we look into a permanent solution to the coal conveyor belt failure at the station,” Eskom said.
Late on Wednesday it said some generating units have already returned to service and it expects more units to return to service over the next few days.currency fell as much as 1% against the dollar on Wednesday after Eskom announced the cuts.
The top executives of the state owned company, responsible for 95% of electricity generation, all refused security screenings as well, I think that speaks volumes on its own.
They were refused higher tarrifs, and responded by cutting power in order to flex their control, they do this all the time. Insanely corrupt state owned company, even by African standards.
Who would be só stupid to invest in a country like this?
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