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Eskom Forecasts Surge in Debt as Energy Prices Dent Profitability

SOUTH AFRICA
  • Eskom sees about a third of its coal-fired capacity being unavailable at any one time under a most likely scenario in 2022
  • This will add R20.9 billion ($1.4 billion) in fueling its open-cycle gas turbines in the 13 months through April next year, or almost three times what it spent in the financial year ended March last year
  • Eskom has forecast that its debt will rise to 416 billion rand by the end of this month, and the unplanned expenditure will add to its financial woes
  • Expenditure could rise to 35.9 billion rand and 36 days of power cuts could be expected under a less likely, more pessimistic scenario when even more generation capacity was offline, it said
  • The number of days of power cuts forecast is conservative compared to Eskom’s performance in the current financial year. Between April 1 last year and Feb. 8 this year there were 58 days of power cuts, the utility said. - bbg
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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