Electricity production lifts marginally in October | Fin24
 
  • Android Ban

    Top US tech giants have begun cutting off vital Huawei supplies.

  • Eskom Debt

    The power utility must collect what it is owed by municipalities, says Tito Mboweni.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.

Loading...

Electricity production lifts marginally in October

Dec 07 2018 06:16
Lameez Omarjee, Fin24

Electricity production picked up in October, following two months of contraction.

According to data released by Statistics South Africa (StatsSA) on Thursday, electricity production increased 0.8% year-on-year in October. 

Investec economist Lara Hodes noted that production has contracted 0.8% in September and by 0.4% in August.

Electricity consumption increased by 2.2% year-on-year in October 2018, up from 0.3% in September. Hodes remarked that consumption still remains relatively muted, reflecting the "subdued nature" of the domestic economy.

"The recent escalation in load shedding across the country will likely put further strain on the already constrained economy, especially highly energy intensive sectors, with credit rating agencies likely watching the situation closely," said Hodes.

Earlier on Thursday Public Enterprises Minister Pravin Gordhan briefed the media on the latest operational matters at Eskom following several days of load shedding.

The minister said that there were no plans to privatise the debt-laden power utility.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

eskom  |  pravin gordhan  |  electricity  |  load shedding
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Do you think government can solve the Eskom crisis?

Previous results · Suggest a vote

Loading...