Eskom has kept the lights on for 75 days, allowing a light to shine on the real crisis it faces – one of the financial variety.
Eskom is celebrating 75 days of suspending load-shedding this week, the longest stretch of zero rotational blackouts since the period between 5 December 2021 and 2 February 2022.
Oosthuizen noted that as the private sector starts to entrench itself as an alternative energy source in households and major industries, and the country starts to feel the impact of this progression, ““This could spell even tougher financial times ahead for, and some difficult decisions may need to be considered, such as business restructuring and perhaps even retrenchments – a move that would have political ripple effects.
Independent energy expert Mohammed Madhi noted earlier this year that other sources of energy, like renewables, are getting cheaper, while Eskom is hiking prices by exorbitant amounts each year, pushing its inefficient power production costs onto customers.Eskom is aware of the issue, but has little choice in the matter. It has repeatedly argued that its tariff applications are so that its prices reflect the cost of producing electricity in the country.
However, given the dire state of Eskom’s financial and operational performance, the RCA has always been in the power utility’s favour, and the RCA has led to Eskom applying for increasingly higher tariff hikes each year.
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