Severe planned power cuts at South African state-run utility Eskom are expected to shave 0.3 percentage points off first-quarter GDP growth, Goldman Sachs said on Thursday.
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Eskom says the cyclone in Mozambique has contributed significantly to load shedding being escalated from stage 3 to stage 4 this afternoon.
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JOHANNESBURG – Eskom says it’s working with technicians in Mozambique to restore power supply through the two power lines that went offline cutting about 1,000 megawatts of power from the grid.
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The National Union of Mineworkers (NUM) announced on Tuesday that it would march on the African National Congress’ (ANC’s) Luthuli House head office, in Johannesburg, on March 30 to voice its opposition to the unbundling of Eskom.
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(Reuters) – A bailout for struggling South African state utility Eskom could reach as much as 150 billion rand ($10.79 billion) over 10 years, a senior National Treasury official told Reuters.
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The African Development Bank (AfDB), which has extended billions of rands in loans to Eskom, says it is optimistic the actions being taken to turn around the embattled South African power utility will bear fruit.
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South Africa’s Public Enterprises Minister Pravin Gordhan is meeting executives from state power firm Eskom on Monday to find solutions to the country’s electricity crisis, Eskom spokesman Khulu Phasiwe told Reuters.
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South Africa’s power utility Eskom said it would temporarily turn off the power on Sunday due to the increasing strain on its power stations and reserve capacity.
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South African trade union federation COSATU said on Tuesday that it opposed a proposal to split up Eskom into three different entities, adding that it would not solve the struggling utility’s governance and debt problems.
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South African miners support a restructuring of struggling state power firm Eskom to boost competition in the electricity supply industry, an industry body said on Wednesday, warning that tariff hikes alone would not solve Eskom’s problems.
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