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In May, Eskom had projected an unprecedented level of power cuts during the winter months. Although its most dire predictions did not materialise, the country still experienced 10 hours of power cuts for 39 days in winter and not a single day with uninterrupted supply. The country's central bank said in June that regular power cuts would shave off almost 2% from the country's growth rate. In the base case scenario, the country would see "Stage 4" loadshedding at worst, which translates into up to six hours of power cuts in a 32-hour cycle, he said. Bheki Nxumalo, Eskom's head of generation, said he expected lower daily rolling blackouts as the Kusile power plant would progressively come online from October.
Persons: Siphiwe, Eskom, Calib Cassim, Bheki, Cassim, Promit Mukherjee, Sharon Singleton Organizations: REUTERS, Thomson Locations: Sasolburg, Free State, South Africa, JOHANNESBURG
SummarySummary Companies Auditors cite past 'financial irregularities'Utility reports $719 mln net loss for 2022Expects bigger loss this yearEskom says reliant on government supportJOHANNESBURG, Dec 23 (Reuters) - South Africa's Eskom said on Friday that auditors have questioned the utility's ability to survive as a going concern citing past financial irregularities. Auditors Deloitte & Touche LLP in a report said there is “a material uncertainty relating to Eskom’s ability to continue as a going concern,” the utility said in its annual financial report. [1/2] Locals walk past electricity pylons during frequent power outages from South African utility Eskom, caused by its aging coal-fired plants, in Orlando, Soweto, South Africa, September 28, 2022. REUTERS/Siphiwe Sibeko/File Photo 1 2In response, Eskom said it was investigating the incident and was finalising a disciplinary process against an individual. Eskom CEO Andre De Ruyter resigned this month saying a lack of political support had made his position "untenable".
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