Eskom distributed less electricity in August – including electricity produced by Independent Power Producers (IPPs) - than at any time since February 2009.
SA electricity distributed in August was less than any time after the Great recession of 2008/09. Not a good sign for SA economic growth at all. Shaded areas are periods of GDP decline. August was steeper drop than March. Lowest volume of electricity distributed since April 2008 pic.twitter.com/CWnJQBMml6— mike schussler (@mikeschussler) October 7, 2019
Despite so little demand for electricity, Eskom can’t keep the lights on.
Eskom decided to remove all the “cost-plus” mines… But they were saving Eskom’s life! Now, coal needs to be purchased on contract from anywhere at any quality…. It’s a total mess! What used to be so simple has become a very complicated exercise…— Xavier Prevost, senior coal analyst - Xmp Consulting
We’re on a knife’s edge in terms of Moody’s decision…— Martin Kingston, Vice-President - Business Unity South Africa
Listen to the interview in the audio below (and scroll down for more quotes from it).
They [Eskom] will soon be in very big trouble… Demand will increase, but there’s less production… We’re going to be in more trouble.— Xavier Prevost, senior coal analyst - Xmp Consulting
Now, we are in for trouble. There’s not enough coal for Eskom. And the coal that is there, the prices increased… As soon as the tenders were released, the prices went up… Coal mines work for profit… prices are set to increase… but Eskom doesn’t have money.— Xavier Prevost, senior coal analyst - Xmp Consulting
This is a most unfortunate way of undermining very fragile confidence in the economy… it’s likely to dent economic growth…— Martin Kingston, Vice-President - Business Unity South Africa
The appointment of a CEO is critical, supported by a competent board…— Martin Kingston, Vice-President - Business Unity South Africa
Private sector participation must be encouraged… We need to launch round five of the Renewable Energy Independent Power Producers Programme as a matter of urgency…— Martin Kingston, Vice-President - Business Unity South Africa
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