Eskom is expected to reveal plans on how the power utility will avoid load shedding as the country anticipates a spike in use of electricity over the winter months.
There have been growing concerns that Eskom will not be able to meet the needs of consumers due to reports of coal stockpiles running low at several power stations.
The power utility, however, called for calm and said it would reveal its plans on Thursday.
Eskom spokesperson Khulu Phasiwe said, “At this stage (there is) no reason to panic. Indeed, seven stations are having low stockpiles. We are diverting the coal to low stockpiles. we are signing new contracts so we can move coal to those power stations.”
Commenting on rating agency Fitch reaffirming Eskom at below investment grade, the utility said it saw this as a positive sign and is confident this will boost its commitment to turn the power utility around.
Earlier this year, Fitch and Standard and Poor’s downgraded Eskom bonds to junk status.
Source:eNCA
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