Photo by: Bloomberg
During recent hearings into its R293-billion allowable revenue application for 2022/23, Eskom dramatically lowered the energy availability factor assumptions for its coal fleet from 72% to 62%. While dismal, the figure is arguably more realistic given the scale of the maintenance backlog, as well as the lack of skills, liquidity, time and space to perform the maintenance that is required. Worryingly, the energy utilisation factor is also set to rise dramatically from an initial assumption of 62% to 74%, leaving even less space for maintenance. Photograph: Bloomberg