U.S. Markets closed
  • S&P 500

    4,136.48
    -43.28 (-1.04%)
     
  • Dow 30

    33,926.01
    -127.93 (-0.38%)
     
  • Nasdaq

    12,006.96
    -193.86 (-1.59%)
     
  • Russell 2000

    1,985.53
    -15.69 (-0.78%)
     
  • Crude Oil

    73.23
    -2.65 (-3.49%)
     
  • Gold

    1,877.70
    -53.10 (-2.75%)
     
  • Silver

    22.40
    -1.22 (-5.17%)
     
  • EUR/USD

    1.0798
    -0.0113 (-1.0366%)
     
  • 10-Yr Bond

    3.5320
    +0.1360 (+4.00%)
     
  • Vix

    18.33
    -0.40 (-2.14%)
     
  • GBP/USD

    1.2056
    -0.0173 (-1.4106%)
     
  • USD/JPY

    131.1500
    +2.5460 (+1.9797%)
     
  • BTC-USD

    23,412.43
    -191.14 (-0.81%)
     
  • CMC Crypto 200

    535.42
    -1.43 (-0.27%)
     
  • FTSE 100

    7,901.80
    +81.64 (+1.04%)
     
  • Nikkei 225

    27,509.46
    +107.41 (+0.39%)
     

South Africa Returns to Brink of Record Electricity Outages

(Bloomberg) -- South Africa’s state-owned power utility will remove 6,000 megawatts from the national grid until further notice due to breakdowns at power stations, raising the risk of a new record for daily electricity rationing.

Most Read from Bloomberg

Eskom Holdings SOC Ltd. will implement the so-called stage-6 load shedding from 4 p.m. on Wednesday “due to severe capacity constraints” at eight coal-powered plants, it said in a statement. That equates to consumers being deprived of power for six or more hours a day.

The struggling utility rationed power on 205 days of last year. While Eskom has never cut more than 6,000 megawatts at a time from the grid, it has used up diesel supplies allocated for the year through March and a unit at its nuclear plant is shut down for a revamp. That means any additional faults among its assets and infrastructure could move the country to a a higher level of outages.

Most Read from Bloomberg Businessweek

©2023 Bloomberg L.P.