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CSIR Warns of R15bn in Extra Costs for SA, Eskom as Fuel Prices Surge

SOUTH AFRICA
  • Researchers at the Council for Scientific and Industrial Research (CSIR) have warned that South Africa faces a growing energy crisis, as ongoing load shedding problems risk being exacerbated by rising international diesel costs
  • In a presentation to parliament on Tuesday (15 March), the CSIR noted that 2021 was the worst year on record for load shedding with 1,169 hours of outages and 2,521 GWh of energy shed. It added that 2022 is already off to a poor start with 261 hours of outages to date and 554 GWh of energy shed.
  • One of the levers that Eskom has to keep its systems online is Open Cycle Gas Turbines (OCGTs) which rely on diesel supplies to operate.
  • Increased usage of diesel-fired peakers cost the South African power system an additional R10.8 billion in 2021 alone. Considering Eskom’s operating costs of R196 billion in 2021, these additional costs equate to a 7.5% increase in operating expenditure.
  • Based on 2021’s data and the current diesel prices, South Africa faces additional costs of R15 billion, the CSIR said. However, it noted that Eskom was currently using four times more diesel for peakers due to the constrained power system. - BusinessTech
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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