Government urgently seeks funds for diesel as load shedding intensifies

Government said it’s urgently seeking funds to buy diesel needed to fuel auxiliary power plants after Eskom said outages will intensify this week. Moneyweb Loadshedding

Government said it’s urgently seeking funds to buy diesel needed to fuel auxiliary power plants after the state electricity utility said outages will intensify this week. Read: Eskom latest: ‘erratic’ power cuts to continue through Wednesday Public Enterprises Minister Pravin Gordhan met members of Eskom Holdings’s board on Sunday amid “serious concerns” about the risk of increased nationwide blackouts in the months ahead, his department, which oversees the utility, said in a statement.

The loss-making, indebted utility already spent more than R11 billion on the fuel in the 10 months through October, chief operating officer Jan Oberholzer said last week. The load shedding may get worse if funds to buy the fuel run out, he warned. “The DPE is urgently working with National Treasury and Eskom for it to find the money to buy supplies of diesel,” the Department of Public Enterprises said Sunday. The government is also “looking for savings” within Eskom’s existing funds.

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