Finance minister Enoch Godongwana says Treasury does not have the money
Eskom has asked the National Treasury for R19.5bn to buy diesel to fuel auxiliary power plants, a request that’s unlikely to be heeded, said Finance Minister Enoch Godongwana. Picture: BLOOMBERG
SA’s cash-strapped power utility Eskom has asked the National Treasury for R19.5bn to buy diesel to fuel auxiliary power plants, a request that’s unlikely to be heeded, said finance minister Enoch Godongwana. Africa’s most-industrialised 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 the country’s power supply.
Eskom has spent R11bn on the fuel in the 10 months through October and warned last month that 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. The utility has since negotiated a deal 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. “Due to the depletion of the budget to acquire diesel for the open cycle gas turbines, Eskom has been forced to strictly conserve the fuel for the direst of emergencies,” it said in a statement on Friday, as it announced the resumption of load-shedding.
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