Moody's raises concerncs of worsening energy crisis

JOHANNESBURG - Despite the lower stages of blackouts, global ratings agency Moody's, says South Africa is in the midst of the worst energy crisis in decades as rolling power cuts occur daily.

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In its latest report on electricity markets, Moody's warned that the electricity system, will remain under extreme pressure this year despite Eskom's efforts to improve plant availability.

It also says growth in new capacity will ease system pressure, but progress in development of new build-out, will take time, with investment in network infrastructure required.

There has been lack of investment and the aging coal-fired power plants, account for around 87-percent of the country’s energy supply.