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Eskom Load Shedding Hits New Record

SOUTH AFRICA
EM Bulletmarkets-real-timeBulletEmerging Markets
  • Eskom’s load-shedding operations on Sunday amounted to a new record high for capacity taken offline, after over 17,000 MW was impacted. Following further unit breakdowns, Eskom shifted to stage 4 load shedding on Monday, according to Moneyweb.
  • Following last week’s flood disruption, the government’s plans for KwaZulu-Natal are seen using COVID-19 Solidarity funds as part of the relief effort. Other funds will be subject to parliamentary approval, which the government will seek on top of $68mln in aid already allocated.
  • Risk events and data releases are few and far between Tuesday, keeping focus on the inflation data due tomorrow – CPI is expected to rise to 6.0% Y/Y, and 3.7% for the core measure.
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  • Eskom’s load-shedding operations on Sunday amounted to a new record high for capacity taken offline, after over 17,000 MW was impacted. Following further unit breakdowns, Eskom shifted to stage 4 load shedding on Monday, according to Moneyweb.
  • Following last week’s flood disruption, the government’s plans for KwaZulu-Natal are seen using COVID-19 Solidarity funds as part of the relief effort. Other funds will be subject to parliamentary approval, which the government will seek on top of $68mln in aid already allocated.
  • Risk events and data releases are few and far between Tuesday, keeping focus on the inflation data due tomorrow – CPI is expected to rise to 6.0% Y/Y, and 3.7% for the core measure.