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SOUTH AFRICA: Eskom Implements Load Reduction, Treasury To Sell Bonds

SOUTH AFRICA
  • Eskom said it was implementing "load reduction" amid an increase in demand for power as the winter season sets in, as well as overloaded transformers as a result of electricity theft. The utility insisted that loadshedding remains suspended after recently reaching an important psychological milestone of 100 days without rolling blackouts. The Daily Maverick circulated an analysis piece, which described the implementation of load reduction as a sign that "the electricity problems will devolve to the local level, where they will be more difficult to solve."
  • Electricity Minister Kgosientsho Ramokgopa said that he intended to press ahead with the procurement of a new 2,500MW nuclear power plant, despite a pending court challenge by the Democratic Alliance (DA). He noted that "the executive will defend, through the Minister of Energy and Electricity, our position."
  • The National Treasury will today sell ZAR1.25bn of 8.25% 2032 bonds, ZAR1.25bn of 8.50% 2037 bonds and ZAR1.25bn of 9.00% 2040 bonds.
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