South Africa’s Eskom back in profit
South African power
utility, Eskom, swung to a full-year profit from a record loss last
year due to rising demand and tariffs, and said it was close to getting
the funds it needs to increase capacity.
Acting Chairman,
Mpho Makwana, said power supply in the world’s top platinum producing
nation and major supplier of gold would remain tight, until new
capacity comes onstream in 2013 and again after 2018, when more
capacity would be needed to meet fast-rising demand.
“Crises are still
looming. The system capacity will be even more vulnerable from as early
as 2011 onwards, and there is therefore, a need to urgently continue
with the current Eskom capacity expansion,” he said in a presentation
on Wednesday.
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