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Eskom distributed less electricity in Aug 2019 than at any time since Feb 2009

17 October 2019 9:33 AM
Tags:
Eskom
Economy
Load shedding
Renewable energy
Government
Business Unity South Africa
Coal
Moody's
Martin Kingston
IPPs
Xavier Prevost
Xmp Consulting
“It’s a total mess! What used to be so simple has become a very complicated exercise,” says coal analyst Xavier Prevost.

Eskom distributed less electricity in August – including electricity produced by Independent Power Producers (IPPs) - than at any time since February 2009.

Despite so little demand for electricity, Eskom can’t keep the lights on.

The Money Show’s Bruce Whitfield interviewed Xavier Prevost (senior coal analyst at Xmp Consulting) and Martin Kingston (Vice-President of Business Unity South Africa).

Picture: Pexels.

Eskom decided to remove all the “cost-plus” mines… But they were saving Eskom’s life! Now, coal needs to be purchased on contract from anywhere at any quality…. It’s a total mess! What used to be so simple has become a very complicated exercise…

Xavier Prevost, senior coal analyst - Xmp Consulting

We’re on a knife’s edge in terms of Moody’s decision…

Martin Kingston, Vice-President - Business Unity South Africa

Listen to the interview in the audio below (and scroll down for more quotes from it).

They [Eskom] will soon be in very big trouble… Demand will increase, but there’s less production… We’re going to be in more trouble.

Xavier Prevost, senior coal analyst - Xmp Consulting

Now, we are in for trouble. There’s not enough coal for Eskom. And the coal that is there, the prices increased… As soon as the tenders were released, the prices went up… Coal mines work for profit… prices are set to increase… but Eskom doesn’t have money.

Xavier Prevost, senior coal analyst - Xmp Consulting

This is a most unfortunate way of undermining very fragile confidence in the economy… it’s likely to dent economic growth…

Martin Kingston, Vice-President - Business Unity South Africa

The appointment of a CEO is critical, supported by a competent board…

Martin Kingston, Vice-President - Business Unity South Africa

Private sector participation must be encouraged… We need to launch round five of the Renewable Energy Independent Power Producers Programme as a matter of urgency…

Martin Kingston, Vice-President - Business Unity South Africa

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This article first appeared on 702 : Eskom distributed less electricity in Aug 2019 than at any time since Feb 2009


17 October 2019 9:33 AM
Tags:
Eskom
Economy
Load shedding
Renewable energy
Government
Business Unity South Africa
Coal
Moody's
Martin Kingston
IPPs
Xavier Prevost
Xmp Consulting

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