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Power cuts cost economy up to $6.8 bn/month

For load shedding between stages 1 and 3.

Electricity cuts by South Africa’s ailing power utility Eskom cost the economy between $1.7 billion and $6.8 billion a month, according to a presentation by the department of public enterprises to parliament on Wednesday.

“Load shedding between stages 1 and 3 costs the economy anywhere between 20 billion rand ($1.69 billion) to R80 billion per month,” the presentation said.

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The country’s GDP is about $350 billion, this would imply a loss of about 20% due to Eskom. This sounds very fishy thumb-sucked figure, I wonder how they came to this amount.

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