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Eskom Confirms Indefinite Stage 3 Power Cut Extension

SOUTH AFRICA
  • Bloomberg reports South Africa’s Eskom is to extend stage 3 power cuts indefinitely.
  • Limited market reaction, seen as broader confirmation after local press ran stories earlier notifying that stage 3 loadshedding is to continue until further notice (prior backstop was 5am Friday) after failure of 2 generation units at the Kendal plant as well as outages at both Kriel and Arnot power stations overnight.
  • Limited move in USDZAR on the headlines accordingly, +0.1% on the day at 18.316.

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