South African President Cyril Ramaphosa will hold talks with various ministries and other parties to find a solution to the power cuts that are hobbling the economy.
(Bloomberg) — South African President Cyril Ramaphosa will hold talks with various ministries and other parties to find a solution to the power cuts that are hobbling the economy.
“More engagements are scheduled for today and tomorrow for a review of the situation and direction on urgent measures which can be taken in order to mitigate the impact of load shedding,” his spokesman Vincent Magwenya told reporters on Thursday, referring to the local term for rolling outages.
Electricity utility, Eskom SOC Holdings Ltd., is implementing cuts of as much as 10 hours a day as its aging, mostly coal-fired plants regularly fail. The country’s energy regulator gave the cash-strapped company permission to raise prices by 18.65% later this year.
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