Phew!!!!! Here is a bit of exciting news as we steam into the winter season.
National energy utility provider Eskom has promised continued continued stability. The company's Chief Financial Officer Anoj Singh believes that Eskom will continue providing a stable supply of electricity to all South Africans.
This comes after credit rating agency - Standard & Poor - affirmed South Africa’s rating last Friday. Most of the rationale for the decision endorsed by Standard & Poor was dedicated to the improved and increasingly stable supply of electricity in the country.
“Eskom, the state-owned power utility, has improved the energy supply through a better maintenance program, managing demand in peak periods, and by additions from its new power plants and from independent power producers,” read the statement released by Standard and Poor’s.
“The combined measures have helped eliminate load shedding, which was prevalent in the last winter cycle and depressed overall 2015 economic growth,” continued the statement.
Singh divulged that the decision is encouraging and will place Eskom on a strong path.
“We welcome the affirmation of the sovereign rating by S&P Global. This decision encourages the positive path that Eskom has embarked on to improve its credit profile and become financially sustainable,” said Singh.
“S&P Global had also placed Eskom’s ratings under review, so we believe that this decision will bear positive results for Eskom’s credit profile, taking into account Eskom’s extra-ordinary support from government,” he added.
So this is one of plenty of reasons to keep you productive this winter. Eskom is here to stay!
