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Terence Creamer

Terence Creamer

Terence Creamer is the Editor of Engineering News and a Deputy Editor for Mining Weekly.

He also has editorial responsibility for Polity.org.za and Creamer Media's Research Channel Africa.

Tel: +2711 622 3744

Email: newsdesk@engineeringnews.co.za

Surgery not a Band-Aid

26th January 2018 Eskom’s debt refinancing is undoubtedly a critical burning platform. The clock is most definitely ticking and the consequences of not closing the immediate financial chasm will be dire not only for the utility, but also for citizens. That said, government is extremely unlikely to allow Eskom to... 

DTI denies ‘rivalry’ with EDD over amendments to Competition Act

25th January 2018 The Department of Trade and Industry (DTI) has denied reports of rivalry with the Economic Development Department over proposed amendments to the Competition Act, which its claims to support. In a statement released on Thursday, the department underlined its concern over the “excessive... 

Cyberattacks pose risk to financial stability, SARB warns

25th January 2018 Rising cybersecurity risks could undermine financial stability, South African Reserve Bank (SARB) deputy governor Francois Groepe warns. Speaking in Cape Town at the thirteenth Basel Committee on Banking Supervision – Financial Stability Institute high-level meeting for Africa, Groepe said the... 

Nersa to host hearings into R66.6bn Eskom claw-back applications in May

23rd January 2018 The National Energy Regulator of South Africa (Nersa) will hold public hearings across all of South Africa’s nine provinces between May 7 and May 25 to consider three revenue claw-back applications, collectively valued at R66.6-billion, submitted by cash-strapped power utility Eskom. The... 

Sasol says higher oil price, if sustained, bodes well for H2

23rd January 2018 Chemicals and energy group Sasol indicated on Tuesday that its second-half results would be positively affected should the recent rise in oil prices to levels approaching $70/bbl be sustained for the remainder of its financial year, which runs to June 30. In a trading statement for the six months... 

Concerns raised over lack of policy framework for competition law changes

19th January 2018 Concern has been expressed about the absence of a comprehensive competition policy framework to help guide proposed amendments to competition legislation and facilitate greater alignment with other government policies and programmes, such as the Industrial Policy Action Plan. In December,... 

IDC assessing 21 applications under R1.5bn downstream steel incentive

19th January 2018 The Industrial Development Corporation (IDC) is currently assessing 21 potential transactions, worth a combined R437-million, arising from applications for support under a R1.5-billion industrial financing scheme set up in 2017 to support manufacturers of value-added steel products. The... 

Kganyago concerned another big power tariff hike will trigger grid defections

19th January 2018 South African Reserve Bank governor Lesetja Kganyago has added his voice to a growing chorus of concern that South African businesses, and even high-income households, could defect from the electricity grid in numbers should Eskom prevail in its bid for a 19.9% tariff increase from April 1, 2018.... 

Special power deal for Silicon Smelters must start on July 1 or earlier – Nersa

19th January 2018 The National Energy Regulator of South Africa (Nersa) has confirmed that a special pricing agreement (SPA) between Eskom and Silicon Smelters, which was approved in August, should commence no later than July 1, 2018, and continue for a maximum of two years. Silicon Smelters, a subsidiary of... 

Fix or fail

19th January 2018 2018 is set to be yet another big year for the South African electricity utility, which has been in the headlines for all the wrong reasons for more than ten years now. Dealing with the fiscal and economic risks posed by Eskom’s current lack of sustainability has to be a top priority. And because... 

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