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Home Energy

Eskom’s hunt for more power may risk Zimbabwe import deals

FurtherAfrica by FurtherAfrica
August 2, 2022
in Africa, Energy, South Africa
Reading Time: 2 mins read
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Eskom Holdings SOC Ltd., the South African state-owned power utility, is looking to replace Zimbabwe as an importer of electricity from Mozambique and Zambia to help ease rolling blackouts.

Zimbabwe’s contracts with Mozambique’s Electricidade de Mocambique and Zambia’s Zesco Ltd. are set to expire at the end of the month, according to Sydney Gata, the executive chairman of the country’s Zesa Holdings Ltd. Zimbabwe is failing to pay the $6.3 million monthly import bill to Zambia, he said. A sub-optimal tariff charged by Zesa to consumers means it’s unable to generate enough foreign currency to meet its obligations.

Also read: Where to find bitcoin ATMs in South Africa

Eskom is now “putting pressure” on the Mozambique and Zambian utilities to take over the contracts, Gata said.

“Zesa now has up to July 31 to draw the supply or else the contracts will be cancelled and the supply re-allocated to other utilities,” he said in a letter to miners. “Zimbabwe will stand to lose heavily as these contracts are long term and at a competitive price.”

Also read: South Africa may exempt 1GW renewable plants from licensing

Eskom, which supplies almost all of South Africa’s power from coal-fired plants, has subjected the country to intermittent outages for more than a decade because it can’t meet demand. President Cyril Ramaphosa said this week the company will turn to its neighbors to purchase surplus power, one of a number of measures designed to ease the crisis.

Related

Source: Bloomberg
Tags: blackoutsElectricityEnergyEskomEskom Holdings SOCEskom’s hunt for more power may risk Zimbabwe import dealsforeign currencyimporter of electricityMozambiqueMozambique’s Electricidade de MocambiquePresident Cyril RamaphosaSouth AfricaSouth AfricanSydney GataZambiaZambia’s Zesco LtdZesa Holdings Ltdюжная-африкаجنوب-أفريقيا南アフリカ南非
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