Last week Eskom suspended loadshedding following troubles with its generating capacity.
The situation has improved considerably according to a media statement from Eskom.
“Eskom’s electricity system has made significant progress towards full recovery and our water reserves for pump storage schemes and diesel reserves for the open cycle gas turbines have been replenished for the week. Several units have also been returned to service from planned and unplanned maintenance,” Eskom said.
Despite this positive outlook, Eskom has said that the system remains vulnerable and any shift in demand or unplanned breakdowns could lead to loadshedding.
#EskomMediaStatement : No loadshedding is expected today and the probability of loadshedding is low for the week.@CityPowerJhb @CityofJoburgZA @City_Ekurhuleni @CityTshwane @eThekwiniM @CityofCT @OtpLimpopo @MpumalangaGov pic.twitter.com/l1XqQEyLQ0
— Eskom Hld SOC Ltd (@Eskom_SA) October 28, 2019
This week is a big one for South Africa as finance minister Tito Mboweni is expected to make announcements pertaining to bailouts for state-owned-enterprises.
Among those bailouts is Eskom which is not only receiving a bailout but will also be split up following word from South African President Cyril Ramaphosa earlier this year during the Mini Budget speech.
The trouble is that these bailouts will likely negatively impact South Africans and the economic outlook for the country.
Economists predict a fiscal gap of 6.1 percent will result from the various bailouts according to a Bloomberg survey. This would be the biggest gap since 2010 and tax hikes would ultimately hit South Africans.
Here’s hoping at the very least the power grid holds out.