Latest news with #DanMarokane
The South African
28-05-2025
- Business
- The South African
A flicker of light for Eskom, but load shedding still a risk
Fitch Ratings has affirmed Eskom's long-term credit rating and upgraded its Standalone Credit Profile (SCP) from 'ccc-' to 'ccc+'. This signals improving operations and finances, which is positive news. A CCC+ rating simply means that the company is still in a very risky financial position, but it's doing slightly better than before. It's a small step up, but it still signals that there's a real chance it could struggle to pay its debts. Fitch upgraded Eskom's credit rating because the company has improved its operations and expects to see a significant rise in earnings before interest, taxes, depreciation, and amortisation (EBITDA) from 2025 to 2029. This indicates that Eskom's generation units are performing better, which is important after years of poor performance and frequent blackouts. The agency has confirmed Eskom's long-term local currency Issuer Default Rating (IDR) is at 'B' with a stable outlook. It also confirmed Eskom's senior unsecured debt rating at 'B' (with a Recovery Rating of 'RR4') and its senior unsecured guaranteed debt at 'BB-'. This shows increased confidence in Eskom's operations and its strong relationship with the government. Eskom's Group Chief Executive, Dan Marokane, welcomed the news that Fitch has affirmed and improved the power utility's credit rating. He said this shows Eskom's commitment to improving its financial and operational performance. Marokane emphasised that the company's main goal is to reduce its dependence on government support by working towards long-term financial stability. This development brings some hope that the end of Eskom's load shedding may be getting closer, but there are still many challenges ahead. Remaining Challenges and Public Impact A recent upgrade in Eskom's credit rating shows some progress in its recovery efforts. This upgrade suggests that investor confidence is improving. However, the positive impact on the public will depend on better electricity delivery, less reliance on government support, and clear improvements in service performance. Let us know by leaving a comment below or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X, and Bluesky for the latest news.
The Herald
13-05-2025
- Business
- The Herald
Eskom implements stage 2 load-shedding during evening peak
Eskom has announced the implementation of stage 2 load-shedding from 4pm on Tuesday until 10pm on Thursday. The power utility said the measure is necessary to manage limited generation capacity and ensure continued electricity supply during working days. Its decision comes after the delayed return of generation units amounting to 3,120MW, and an additional loss of 1,385MW in the past 24 hours due to unplanned breakdowns. 'The primary reason for the setback is the delay in returning several units from planned maintenance,' it said. Eskom said the delays and unplanned capacity loss that has temporarily exceeded 13,000MW align with the risk scenarios shared in its winter 2025 outlook. 'Eskom is emerging from an intensive maintenance cycle, which is essential for long-term reliability but temporarily reduces system flexibility and resilience. As a result, the grid is more sensitive to unexpected disruptions,' it said. The power utility said load-shedding incidents have significantly decreased compared to previous years. It said the recent setbacks affected operational performance and have been acknowledged in its winter outlook, together with a clear recovery plan. Group CEO Dan Marokane said their new operational excellence programme is key to restoring performance. 'We are reinforcing oversight, strengthening accountability and aligning service providers with stricter performance standards. This forms part of our broader drive for consistent improvement through systems, people and processes,' he said. Marokane said the delays in returning units are urgently being addressed by senior leadership. Eskom said despite pressures, the system is in a significantly stronger position than in past winters. 'We continue to expand capacity. Three major Eskom projects are on track to bring an additional 2,500MW to the grid, a crucial milestone towards full recovery, with commitment from our private sector partners to deliver on their commitments.' TimesLIVE
The Citizen
13-05-2025
- Business
- The Citizen
Charge everything: Load-shedding hits this afternoon
Eskom will implement Stage 2 load-shedding during evening peak periods from today at 16:00 until 22:00 on Thursday to ensure supply during working days. The power utility said in a statement that load-shedding is being implemented to manage limited generation capacity and ensure continued supply during the working day. This decision follows the delayed return of generation units (amounting to 3 120MW), and an additional loss of 1 385MW in the past 24 hours due to unplanned breakdowns. The primary reason for this setback is the delay in returning several units to operation after planned maintenance. These delays, coupled with an unplanned capacity loss that has now temporarily exceeded 13 000MW, align with the risk scenarios shared in Eskom's Winter 2025 Outlook. The power utility explained that it is emerging from an intensive maintenance cycle, which is essential for long-term reliability but temporarily reduces system flexibility and resilience. As a result, the grid is more sensitive to unexpected disruptions. 'We sincerely apologise for the inconvenience this causes. Eskom remains firmly committed to supplying electricity reliably,' said group chief executive Dan Marokane. 'Our new operational excellence programme is key to restoring performance. We are reinforcing oversight, strengthening accountability and aligning service providers with stricter performance standards. This forms part of our broader drive for consistent improvement… We are determined to build on the progress already achieved. The delays in returning units are being addressed with urgency by senior leadership,' he added. Despite current pressures, Eskom said the system is in a significantly stronger position than in past winters. 'In the past financial year, 96% of our generating capacity was available, compared to just 9% in the previous year.' Breaking news at your fingertips… Follow Caxton Network News on Facebook and join our WhatsApp channel. Nuus wat saakmaak. Volg Caxton Netwerk-nuus op Facebook en sluit aan by ons WhatsApp-kanaal. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The South African
09-05-2025
- Business
- The South African
14-hour power outage to affect parts of Gauteng on Tuesday
Residents of Dobsonville Extension 3 in Soweto will experience a planned power outage on Tuesday, 13 May, from 9:00 to 23:00. Eskom confirmed the outage will allow for 'essential maintenance on our distribution power lines,' as the utility continues efforts to stabilise its infrastructure. Eskom advised residents to prioritise safety during the 14-hour power outage. 'In the interest of safety, customers are advised to treat all electrical appliances as live at all times during the power supply outage,' the power utility said in a statement. Additionally, it also thanked residents for their cooperation and apologised for the inconvenience. The planned maintenance may be delayed if unforeseen challenges arise. At a media briefing in Johannesburg, Eskom Group Chief Executive Dan Marokane outlined the company's outlook for winter 2024/2025. Marokane revealed optimism for reduced load shedding compared to previous years. He attributed the improved forecast to better operational performance and a drop in unplanned outages. 'If outages increase to 15GW, load shedding would be limited to a maximum of 21 days out of 153 days at stage 2 – an improvement over the prior winter's worst-case prediction of stage 5 load shedding,' Marokane stated. Furthermore, this winter, Eskom expects unplanned outages to range between 13 and 15GW, down from last year's 14–17GW forecast. Last winter saw no load shedding, with average unplanned outages sitting at 12.3GW — well below projections. Boosted Capacity and Maintenance Synergy Eskom has indicated that additional generating capacity is expected to come online. That will help cushion against possible spikes in demand. The utility's confidence in maintaining power supply without resorting to severe load shedding rests on keeping unplanned outages under the critical 13GW threshold. In addition, Marokane explained that the 3.1GW drop in unplanned outages has contributed significantly to the more favourable outlook. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The South African
07-05-2025
- Business
- The South African
Eskom warns loadshedding could return this winter: Here's when
As South Africa braces for the colder months ahead, Eskom has revealed that loadshedding could return this Winter. While the utility believes it can maintain uninterrupted power supply, it has warned that loadshedding could make an unwelcome comeback if unplanned outages exceed critical thresholds. According to the latest projections, South Africans could avoid the frustration of scheduled power cuts if unplanned outages remain below 13GW. However, should these outages climb to 15GW, we could face up to 21 days of Stage 2 loadshedding. That is a scenario that, while disruptive, still represents significant progress compared to last year's worst-case projection of Stage 5. 'We've seen meaningful improvements in system reliability,' notes Dan Marokane, Eskom's Group Chief Executive. 'But we're not out of the woods yet.' Marokane highlighted particular concerns about the period from January to April 2025, which presented unexpected challenges for the utility. The outlook reflects Eskom's ongoing recovery efforts, with unplanned outages dropping by an encouraging 3.1GW compared to Winter 2024. This year's forecast anticipates unplanned outages between 13 and 15GW, down from last year's range of 14 to 17GW. The utility has also ramped up its planned maintenance schedule, increasing maintenance activities to 12.8% for the 2025 financial year, up from 12% in the previous year. This proactive approach aims to strengthen the grid's resilience during peak demand periods. For ordinary South Africans, the question remains: are your backup plans in place should Eskom falter in meeting these targets? While the utility's performance has certainly improved, prudent households might still want to keep those emergency lights charged and alternative cooking methods at hand, just in case. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
