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South African Eskom Signals Respite From Power Output Curbs

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South African Eskom Signals Respite From Power Output Curbs

By Bloomberg

Aug 07, 2022

image is BloomburgMedia_RG8KGLT0AFB501_07-08-2022_12-00-07_637954272000000000.jpg

Electricity cables connect street lighting along a road at sunrise in the Saulsville township, Pretoria, South Africa, on Friday, May 31, 2019. While South African President Cyril Ramaphosa says power utility Eskom Holdings SOC Ltd. is considered too big to fail, it could be too big to support because of the costs associated with stabilizing its finances, Engineering News reported, citing S&P Global Ratings Director Ravi Bhatia.

(Bloomberg) -- South African power utility Eskom Holdings SOC Ltd. has lifted the current round of power production curbs, partly due to low weekend demand.

The current round of blackouts, known locally as loadshedding, started on Aug. 3 after 11 days without interruptions. Loadshedding has been suspended, Eskom said in a statement on Sunday.

The company appealed to South Africans to use electricity sparingly “especially during these uncertain times on the power system.”

Read more: South Africa’s Eskom Seeks CEO Input on Resolving Power Crisis

More stories like this are available on bloomberg.com

©2022 Bloomberg L.P.

By Colleen Goko

1001Z@SJ AFRICA ALLTOP BUSINESS CMD COS ELC FIN INDUSTRIES MARKETS NRG UTI WORLD WWTOP WWTOPEU

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