Pick n Pay and Shoprite are blowing R1 million to R3 million per day on diesel to deal with load-shedding.
South African companies are facing what retailer Pick n Pay Stores Ltd. has just called “a permanent new reality” — electricity shortages. The related costs are weighing heavily.
Groceries giant Shoprite Holdings Ltd. last week said buying diesel to keep stores lit during the heaviest of the rolling blackouts, known locally as loadshedding, cost an extra 560 million rand in the six months through Jan. 1. The power cuts may force it to reprioritize capital investment on an energy resilience plan, delaying spending originally earmarked for other demands.
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