Eskom on Saturday announced the implementation of Stage 5 load shedding after the devastating breakdown of another 5 units overnight. Photo: AFP
Eskom on Saturday announced the implementation of Stage 5 load shedding after the devastating breakdown of another 5 units overnight. Photo: AFP
Not content with putting us back into load shedding for the rest of the week, Eskom have also revealed their existential fears about the unfolding crisis in Ukraine – with one senior official noting that the utility could be priced out of buying diesel. This would have a catastrophic impact on Mzansi…
Eskom concerned about rising diesel costs
Eskom’s diesel reserves are already running low, and replenishing the stock doesn’t come cheap at the best of times. Russia’s invasion of Ukraine is having some enormous global consequences already, and it has sent the price of crude oil through the roof. That’s bad news for our burdensome SOE.
Diesel is needed to keep electricity generation going. Without that, the whole eco-system at Eskom collapses. But CFO Calib Cassim says that the the power provider can’t guarantee it will be able to afford fuel going forward.
Eskom ‘might run out of money’ to fund diesel imports
Speaking during a media briefing on Tuesday, Cassim said that Eskom would only be able to afford diesel ‘up to a certain point’, and insisted that there’s no ‘blank chequebook’ that can ease their concerns.
“Gas and oil prices are escalating due to the Russian invasion of Ukraine. We are evaluating the situation as we speak. Eskom can only afford diesel up to a certain point. We will get to a point where we don’t have funds to pay for diesel, we don’t have the chequebook to continually spend on diesel.”
Calib Cassim
Load shedding schedule for Tuesday 8 March
Eskom also announced that Stage 2 load shedding would extended until 5:00 on Saturday 12 March during the briefing. A myriad of issues at various plants has plunged South Africa into intermittent darkness, and the utility states that a longer period of Stage 2 cuts will prevent a harsher round of load shedding over the next few days.
#PowerAlert1
— Eskom Hld SOC Ltd (@Eskom_SA) March 8, 2022
Stage 2 loadshedding will be implemented continuously until 05:00 on Saturday@SABCNews @eNCA @Newzroom405 @ewnreporter @News24 pic.twitter.com/SvvjvmdysY
