Experts declare global energy crisis at World Economic Forum
(EWN) – Energy experts attending the World Economic Forum sounded the alarm on Tuesday and declared a global energy crisis. Some experts said the energy crisis worsened further following the year-long invasion of Ukraine by Russia. Executive director of the international energy agency, Fatih Birol, said never before has the world seen an energy crisis of this magnitude and complexity. READ MORE.
Warning over ‘stage 10’ load shedding – and what it means for South Africa
(BusinessTech) – Despite promises from senior cabinet ministers that load-shedding would be a thing of the past over the next 12 to 18 months as various energy plans are pursued, energy expert at Hohm Energy, Matthew Cruise, says going past Stage 8 is likely. READ MORE.
Ramaphosa calls for caution in how electricity hike is applied, saying SA is reeling from high costs
(Times LIVE) – President Cyril Ramaphosa believes the massive electricity hike approved by Nersa last week needs to be applied cautiously and with consideration by Eskom. Ramaphosa is concerned that South Africans are already reeling under economic and financial pressure and the 18.65% tariff increase will add to their woes. READ MORE.
Ramaphosa routed the RET faction – but rolling blackouts could floor him
(Daily Maverick) – While Ramaphosa came out of the ANC elective conference stronger than ever in December, having purged the party of most of the radical economic transformation faction, load-shedding could be the president’s downfall. Ramaphosa held back-to-back meetings again on Tuesday to solve the energy crisis but since December and following Eskom CEO André de Ruyter’s resignation, load-shedding has only increased. READ MORE.
What’s happening in the markets?
(Business Day) – The JSE eventually closed firmer on Tuesday, swinging between gains and losses during the session, while the rand weakened against the dollar, as investors weighed South Africa’s precarious electricity crisis and economy. The All Share Index added 0.27% to 79,385 points. At 06.15 am, the rand was trading at R17.09/$. READ MORE. (for subscribers)
