South Africa’s cash-strapped power utility has asked the National Treasury for 19.5 billion rand to buy diesel to fuel auxiliary power plants.
South Africa’s cash-strapped power utility Eskom Holdings SOC Ltd. has asked the National Treasury for 19.5 billion rand to buy diesel to fuel auxiliary power plants, a request that’s unlikely to be heeded, said Finance Minister Enoch Godongwana.Africa’s most-industrialized economy has been subjected to record power outages this year, mainly due to breakdowns at Eskom’s poorly maintained coal-fired plants that account for over 80% of South Africa’s power supply.
The utility has been forced to use turbines that run on diesel, intended for bolster generation during peak-demand periods, to mitigate blackouts that have curbed economic growth.that electricity outages, known locally as load-shedding, may intensify if it runs out of funds to buy the fuel. The state-owned company has imposed 176 days of rolling blackouts so far in 2022, according to Bloomberg calculations.with state oil company PetroSA for diesel, which should be sufficient to cover its requirements for the fuel through the financial year ending March 2023, Godongwana said.
It warned the power cuts may “significantly increase” in the next six to 12 months as planned maintenance and breakdowns reduce generation capacity.
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