SA economy still has a pulse as companies generate own power - but grim times are ahead

Despite record levels of load shedding, all energy-intensive sectors in the economy – including mining, manufacturing and construction – grew in the first quarter of this year, new GDP numbers show.

"If sustained, this may be a more concrete indication that corporates are being innovative and increasingly becoming less reliant on the electricity grid to sustain production," said Thanda Sithole, FNB senior economist.

He points to a decoupling in real GDP and electricity usage as measured by Eskom and Statistics South Africa, evident in this graph: