Load shedding may have cut SA's growth by 3.2 percentage points | Business

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South Africa’s energy crisis may have reduced the nation’s economic growth rate by as much as 3.2 percentage points last year and is likely to dampen output until at least early 2024, according to the central bank. | News24_Business

Eskom frequently implements power cuts, known locally as load shedding, to protect the grid from collapse as the state-owned utility’s aging and poorly maintained plants can’t meet demand. Regular outages since January have lasted as long as 12 hours a day.

Last year, the country had 3 776 hours — about 157 days — of load shedding, more than triple the amount in 2021, authors including Theo Janse van Rensburg and Kgotso Morema said in a South African Reserve Bank By mid-February this year, the outages surpassed the cumulative totals for 2019 and 2020, the authors said. By May, interruptions to supply had exceeded those for all of 2022.

Source: News Formal (newsformal.com)

 

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