The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Eskom Holdings SOC Ltd. said will cut 3,000 megawatts of power from the South African grid from 8 a.m. until 11 p.m on Wednesday, marking the fourth consecutive day of such measures.
The state-owned power utility, which supplies more than 90 percent of the country’s electricity, is implementing the rolling blackouts due to a shortage of generating capacity, Eskom spokesman Khulu Phasiwe said via Twitter. Water and diesel emergency reserves are “still very low†and the nationwide strike that unions have planned for Wednesday may further impact operations, Eskom said in a statement.
Eskom has been at the center of a corruption scandal and identified as the single biggest risk to the South African economy.