Enoch Godongwana: “Load shedding will be a thing of the past in 12-18 months”
Finance minister Enoch Godongwana has allayed fears that the ravaging Eskom load shedding will continue for the next few years. Godongwana said the devastating power cuts that are continuously implemented by Eskom will only last for 12-18 months, he was speaking during the World Economic Forum in Davos, Switzerland. He said the country already has
Enoch Godongwana: “Load shedding will be a thing of the past in 12-18 months”
Finance minister Enoch Godongwana has allayed fears that the ravaging Eskom load shedding will continue for the next few years.
Godongwana said the devastating power cuts that are continuously implemented by Eskom will only last for 12-18 months, he was speaking during the World Economic Forum in Davos, Switzerland.
He said the country already has plans to improve energy provision that will end the need for any power cuts within the next 12-18 months.
“Eventually in the next 12-18 months, we will be able to say load-shedding is a thing of the past. That is the target,” Godongwana told Reuters.
Minister of Finance Enoch Godongwana, speaking to Bloomberg TV’s Francine Lacqua, says the government is working to improve Eskom’s operational efficiency, procure emergency power and deal with crime and vandalism of power stations pic.twitter.com/D6RtcWIJ1V
— National Treasury (@TreasuryRSA) January 16, 2023
Godongwana said so-called “Stage 6” power cuts – which mean at least six hours a day without power for most South Africans – would no longer be needed within about five months as facilities are revamped and measures such as demand management take effect.
However, he added that the state-owned power utility could expect to have more money injected into its coffers to buy diesel.
“I don’t think Eskom has a diesel problem, I think Eskom has got a management problem,” he added.
As reported by Fin24, Godongwana also reacted to the latest electricity tariff hike which was announced by Nersa last week, saying it will empower the power generator.
The national energy regulator approved an 18.65% power price rise for the financial year starting on April 1 to the amazement of many South Africans and local businesses.
“I suspect it is going to give them (Eskom) sufficient resources to be able to deal with all of that stuff,” he continued.
Additionally, the minister insisted that the rand, which fell against the dollar earlier on Monday as investors worried about the power supply situation, “has proven to be resilient”, but he said South Africa needed to better communicate that it was tackling the problem.
Godongwana’s trip to Switzerland comes just after President Cyril Ramaphosa cancelled plans to attend the annual WEF meeting over the power crisis, and would refer to those efforts in his Feb. 9 state of the nation address, said Godongwana.
While he would not elaborate on proposals for the state to take on a share of Eskom’s R400 billion debt, he said he was “sharpening his pencil” to provide the details in his February 23 budget presentation.
