Increased load shedding threatens to push South Africa over the edge.
While South Africa may have been able to avoid a technical recession in the first quarter of the year, Eskom’s bleak outlook for the coming winter means the possibility of a full-year recession cannot be ignored.
In general, South Africa’s growth prospects for the year are incredibly low across almost all analytics and finance groups. They range from a paltry 0.1% from the International Monetary Fund to a still pedestrian – and wildly outdated – 0.9% from National Treasury in its February budget. However, on Thursday , power utility Eskom provided a system update heading into winter, in which it warned that, even pushing as high as stage 8 if specific mitigation efforts prove ineffective.
To mitigate against the projected demand-supply imbalance, as per normal, Eskom plans to cut back on planned maintenance through the winter months. This will be limited to a maximum of 3,000MW, down from more than 5,000MW.
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