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28%  
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  • South Africa Hit by Record Blackouts, Raising Recession Risk

    12/10/2019 12:30:04 PM PST · by grundle · 81 replies
    yahoo.com ^ | December 9, 2019
    South Africa’s state power company intensified rolling blackouts to a record, signaling a deepening crisis at the debt-ridden utility and raising the risk of a second recession in as many years. Eskom Holdings SOC Ltd. said on Monday it will move to Stage 6 load-shedding from 6 p.m. local time, meaning it will cut 6,000 megawatts from the national grid, after a technical problem at the giant new Medupi Power Station curbed supply. That’s the biggest cut yet. The utility downgraded the status to Stage 4 as of 10 p.m. The utility is curbing power for a fifth straight day...