Electricity minister Kgosientsho Ramokgopa. Picture: FREDDY MAVUNDA
He said load-shedding could also wipe out R77bn in tax earnings in 2023. This would be equal to about 5% of the total tax revenue in 2021/22. Stats SA’s latest labour force survey put the unemployment rate at about 33% — among the highest in the world. The country suffered 75 days of load-shedding in 2021. This increased to 205 days in 2022, and SA is on track this year for a record number of days with load-shedding, already on 218 up to the first week of August.
A report by RMB Morgan Stanley released in July showed just how big the drop in tax collection in the mining industry could be this year. It looked at data collected from 15 mining companies representing the majority of corporate tax-paying entities from the sector. Ramokgopa said one of the measures Eskom is taking to reduce load-shedding is to ramp up the use of diesel-powered open-cycle gas turbines meant for emergencies or peak demand. “The downside is that we are burning a lot of diesel, which is very expensive. The upside is that we are saving the economy.” he said.
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