Molefe: No load shedding this winter

12 May 2016

Cape Town - There will be no load shedding this winter and next summer, Eskom CEO Brian Molefe said at a system status briefing in Cape Town on Thursday.

He said the power utility does not anticipate load shedding for the 2016/2017 financial year.

Molefe also said the trust Moody's Investors Service (Moody's) has placed in Eskom is not misplaced. The power utility managed to stave off a downgrade by the ratings agency, but was assigned a negative outlook.

Moody's stated that Eskom’s outlook could be revised to stable if it continues to improve and stabilise its operational and financial performance‎.

"The trust that Moody's has placed in us is not misplaced," said Molefe. "We then will be able to get the South African economy growing again."

This quarterly briefing is deemed the most important as the country heads into the winter season.

This article first appeared on Fin24, see here.