Stage 4 load shedding costing SA R2bn a day
Economist Mike Schussler says the back-to-back electricity outages in the country will further cripple the economy.
"For every stage, we are losing probably R20 million per hour. Basically, load shedding stage 4, we are losing probably a little over R2 billion a day."
Eskom elevated our power cut woes on Monday when it moved load shedding to stage 4 on the schedule, saying its emergency generation reserves have been depleted and it's not getting the reduction in demand it expected from stage 2.
Schussler says it's not just about monetary loss.
"Its the loss in confidence, the loss in our ability to attract investment and to create jobs and at this month and time around the country, we have millions of people without jobs. That is a huge amount."
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