Good morning. Eskom will scramble to buy around 1,000 MWs from independent power producers on Monday. South Africa is at risk of breaching stage 6 load shedding. President Cyril Ramaphosa will cut short his international trip to return home and deal with load shedding.
Eskom scrambles to buy 1,000MW from private sector – Business Day (for subscribers)
On Sunday, Eskom announced stage 6 load shedding as it purged 6,000 MWs from the grid with the power utility warning that “high-level” load shedding was here to stay for the week ahead. The power utility will try to buy around 1,000 MWs in the coming weeks from companies with excess private generation capacity.
The 1,000 MWs would ease the load shedding burden by two stages with Eskom CEO André de Ruyter saying the power utility would approach the market on Monday morning to procure “whatever megawatts are available.” Read more here.
SA facing risk of unprecedented level of power outages – News24
This year already represents the worst year on record for load shedding with Eskom CEO André de Ruyter warning that stage 6 could still be breached at some point.
The ongoing blackouts were a major contributor to the economy’s 0.7% contraction in the second quarter while the latest round of severe load shedding will surely add to the economic woes.
President Cyril Ramaphosa announced an energy plan in July but thus far the presidency has remained mum on the progress of the plan’s implementation. Read more here.
President Ramaphosa cuts short foreign trips to address SA’s power crisis – Daily Maverick
Meanwhile, President Cyril Ramaphosa will cut short his international trip after attending Queen Elizabeth II’s funeral on Monday, to return home to deal with stage 6 load shedding said presidential spokesperson Vincent Magwenya.
Ramaphosa met with US President Joe Biden on Friday before flying to London to attend the Queen’s funeral. He was scheduled to return to the US and attend the United Nation’s general meeting in New York, but he will now skip that engagement with International Relations and Cooperation minister Naledi Pandor attending in his stead. Read more here.
Here’s what else we’re reading:
What happens after stage 8 Eskom power cuts – MyBroadband
WATCH | Permanent Stage 2 load shedding an option – but Eskom decided against it, for now – News24
Ramaphosa tells Biden he’ll help international peace efforts in Ukraine – Daily Maverick
Big changes proposed for carbon tax in South Africa – Business Tech
Battle of the banks 2022: Capitec vs Standard Bank vs FNB vs Absa vs Nedbank – Business Tech
MTN building private 5G networks for mines and ports – MyBroadband
You can import an iPhone 14 and save up to R4,000 on local prices – after tax, shipping, and duties – Business Insider
Sekunjalo Group’s bank accounts to be reopened as tribunal grants it interim relief – News24
