Thanks, Eskom. This load-shed misery is going to cost SA R2bn a day
The return of load-shedding comes as Ramaphosa is at pains to reassure potential investors of growth prospects
After 206 days without power cuts, SA again plummeted into darkness on Wednesday when Eskom implemented stage two load-shedding in a bid to protect the system from total collapse.
It was a wake-up call for the markets. The rand weakened past R15 to the dollar for the first time this week. Government’s cost of borrowing also increased as the benchmark 10-year bond yield rose from 8.225% to 8.445%.
Eskom has warned stage two load-shedding is likely to continue for a week. Stage two requires that 2,000MW of demand is shed from the national power grid with the use of rotational power cuts...