Welcome To 2019: Bad News #1

Eskom – nothing good, just bad and ugly

Load shedding could be recommenced within days after power utility CEO Phakamani Hadebe, appearing before the National Energy Regulator of South Africa (Nersa), pleaded for urgent and substantial financial relief for Eskom’s R419bn in debt.

Yesterday’s pleas came on the same date that consumption was set to start spiking again after demand eased over the festive season. With the festive season well and truly over, a reprieve for the country from Eskom’s self-dug debt hole now also seems well and truly over.

And if Hadebe’s Nersa remonstrations are anything to go by, the country seems to be days away from another round of rotating power supply.

But despite his warnings of the imminent collapse of a once proud parastatal that has been hollowed out by rampant corruption and unchecked spending, his requests for a 15% increase this year and the next, and additional increases totalling 52% over three years, only provoked the ire of Nersa’s board members.

Generally speaking it was felt that Eskom should solve its own woes considering that tariff increases are mainly seen as a short-term answer for long-term construction plans that could push the utility’s debt burden to R600bn.

However, without infrastructural expansion Eskom is unlikely to meet demand in years to come. Hadebe added that unless Eskom found R20bn somewhere by March, it probably wouldn’t be in a position to fund operations and pay salaries.

Meanwhile, and perhaps most alarming of all, government has been warned to leave private fund money alone as it moots “prescribing” certain assets in a desperate bid to secure forced funding for crippled parastatals. And yet government is running out of bail-out options for Eskom as its own guarantees, amounting to R350bn, are no longer viewed as sufficient security by banks.

This article courtesy of FTW Online.

 

Musina’s Weather This Week

Weather forecast Musina this week

Monday
14-01
Tuesday
15-01
Wednesday
16-01
Thursday
17-01
Friday
18-01
Saturday
19-01
Sunday
20-01
Min 26  °C 26  °C 25  °C 22  °C 21  °C 21  °C 19  °C
Max 41  °C 39  °C 35  °C 33  °C 35  °C 36  °C 32  °C

Sun

75% 70% 50% 45% 50% 70% 30%
Rain
15% 10% 40% 45% 30% 15% 20%
Wind SE SE SE SE SE SE E
 force 2 2 3 3 3 3 3

Rip-Off

In an article on FTW Online, headed “Avo and mango exporters focus on new markets markets”, (Click here; http://www.ftwonline.co.za/article/188205/Avo-and-mango-exporters-focus-on-new-markets , for the article), it is stated, ““International prices are not necessarily more lucrative, especially when you consider the cost to export and market the product in those countries. In India the price can be as little as $0.60/kg and in China $1/kg.””.

I can believe that local markets may be more lucrative. In one local store, I have seen mangoes selling for R9 each and in another, avocados for R19.99 each.

Absolutely iniquitous, seeing as we live in an area growing both of these fruits. You have to wonder how much the farmer is paid.

Musina’s Weather Forecast

A week of scorching temperatures! Just in time for the athletics events with which the schools kick off their years.

Weather forecast Musina this week

Mon
7-01
Tues
8-01
Weds
9-01
Thur
10-01
Fri
11-01
Sat
12-01
Sun
13-01
Min 22  °C 22  °C 24  °C 22  °C 24  °C 24  °C 23  °C
Max 34  °C 38  °C 40  °C 38  °C 40  °C 40  °C 37  °C
Sun
50% 75% 70% 60% 75% 75% 60%
Rain
15% 5% 30% 35% 45% 30% 20%
Wind E E SE E SE SE SE
Force 3 2 3 3 2 2 2