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Industry confident Eskom board changes will help save utility

By: Megan van Wyngaardt     22nd January 2018 The appointment of a new Eskom board with “credibility, business acumen and experience” has given South African businesses hope that the embattled State-owned entity (SOE) can be salvaged, with a number of organisations lauding Deputy President Cyril Ramaphosa for taking a step in the right... 

New Eskom board will provide 'comfort' to markets – Phasiwe

By: News24Wire      22nd January 2018 The newly appointed Eskom board will provide the reassurance markets have been seeking around issues of corporate governance at the power utility, said spokesperson Khulu Phasiwe. Speaking to Fin24 by phone on Monday, Phasiwe explained Eskom and Treasury would be approaching financial... 

Business welcomes government’s 'commitment' to restore confidence with new Eskom board

By: News24Wire      22nd January 2018 Business leaders have welcomed the appointment of Eskom’s new board as a sign that there is political will to restore confidence in state-owned enterprises. Government announced on Saturday that Telkom chairperson Jabu Mabuza will chair Eskom’s board as part of a host of measures to “stabilise... 

Eskom board had to be fast tracked – Brown

By: News24Wire      22nd January 2018 The new Eskom board had to be fast tracked because the parastatal is in a precarious financial position, Minister of Public Enterprises Lynne Brown has said. “Fast-tracking the appointment of Eskom’s new Board was [necessitated] by the company’s precarious liquidity position and the previous... 

South Africa names Jabu Mabuza as Eskom chair in board shake-up

By: Reuters     20th January 2018   South Africa’s Deputy President Cyril Ramaphosa has appointed a new board at state-owned power utility Eskom and named Telkom’s chairman Jabu Mabuza as its new chairman, the country’s presidency said on Saturday. 

Signing of power purchase agreements with IPPs imminent – SAWEA

By: Megan van Wyngaardt     19th January 2018 The South African Wind Energy Association (SAWEA) expects the conclusion of 26 outstanding power purchase agreements (PPAs) with independent power producers (IPPs) to occur during the first quarter of this year. It said on Friday that the majority of the processes required to conclude the PPAs... 

German fascination with SA wind power

By: Terry Mackenzie-hoy     19th January 2018 Germans seem to be very interested in wind power generation in South Africa. Don't know why. First we had German-born Dr Tobias Bischof-Niemz running the Energy Centre at the Council for Scientific and Industrial Research (CSIR). In this position, he proposed a power generation model that was... 

UK announces further funding for small modular nuclear reactor programme

By: Keith Campbell     19th January 2018 The British government last month announced the next phase in its programme of funding the development of small modular nuclear reactors (SMRs), which forms part of a larger programme to develop the nuclear technology and energy sector in the UK. This phase will see Westminster awarding up to... 

Fix or fail

By: Terence Creamer     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... 

PFK Awarded High Accolades At The Top Technology 100 Event

     18th January 2018 PFK Electronics is proud to announce its achievements and excellence in technology, business and management. PFK attended the annual Top Technology 100 (TT100) event, which is hosted by the Da Vinci Institute for Technology Management, late last year, and was a winner in four major categories and... 

Winds of change have landed, bringing economic growth – BLSA CEO

By: Megan van Wyngaardt     18th January 2018 Business in South Africa has not been this hopeful about the future of the country in years, Business Leadership CEO Bonang Mohale said at a pre-World Economic Forum (WEF) briefing on Thursday. He highlighted that while the country was below investment grade, the recent African National Congress... 

Eskom challenges need to be addressed urgently, or South Africa will sink – Gigaba

By: Megan van Wyngaardt     18th January 2018 Finance Minister Malusi Gigaba on Thursday painted a grim picture of the financial challenges facing power utility Eskom, stating that the national fiscus would be unable to bail the State-owned enterprise (SOE) out in the event of a default. Speaking at a pre-World Economic Forum (WEF)... 

Editorial: Eskom requires surgery not a Band-Aid

By: Terence Creamer     18th 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... 

Capture of State-owned enterprises totally unacceptable – Ramaphosa

By: African News Agency      18th January 2018 South Africa's deputy president and new leader of the ruling African National Congress (ANC), Cyril Ramaphosa, said on Thursday it was "totally unacceptable" that State-owned companies had fallen prey to criminal elements, resulting in sovereign credit rating downgrades to sub-investment status.... 

Gupta-linked company denies getting asset seizure order from NPA

By: News24Wire      17th January 2018 Gupta-linked companies Trillian and McKinsey have until Thursday to submit to the National Prosecuting Authority (NPA) a list of its assets to be frozen or seized. They were officially served with a preservation order to freeze assets worth R1.6-billion. 

South Africa’s dam levels continue to drop

By: Anine Kilian     17th January 2018 South Africa’s dam levels continue to decrease, with data released by the Department of Water and Sanitation (DWS), on Wednesday, showing that average dam levels had dropped from 60.2% last week to 58% this week. In the Western Cape, dams have reached critically low levels, with the average dam... 

Eskom inquiry to hear testimony from Singh, Koko next week

By: African News Agency      17th January 2018 The parliamentary inquiry into alleged corruption at Eskom will resume next week with testimony from suspended chief financial officer Anoj Singh and former acting chief executive Matshela Koko, the chairperson of the public enterprises committee Zukiswa Rantho said on Wednesday. "The Committee... 

SA’s renewables production costs minimised at high penetration levels, NREL study shows

By: Terence Creamer     17th January 2018 A new independent study published by the National Renewable Energy Laboratory (NREL), in the US, concludes that significant production cost savings could be achieved if South Africa added between 60 GW and 100 GW of additional variable renewable energy (VRE) by 2035. The NREL study is a pure... 

R50bn expected to be seized in 17 State capture cases – AFU

By: News24Wire      16th January 2018 The Asset Forfeiture Unit (AFU) is hoping to seize at least R50-billion in 17 cases it is currently investigating related to State capture, acting head of operations advocate Knorx Molelle said on Tuesday. In an interview with eNCA, Molelle said his team had already prioritised six matters which... 

Trillian, McKinsey to be served over Eskom and Transnet services, NPA confirms

By: News24Wire      16th January 2018 Cape Town - A preservation order is expected to be served on Trillian and McKinsey on Tuesday for assets worth around R1.6bn, the National Prosecuting Authority has confirmed. Both companies are linked to the Gupta family. 

SA Reserve Bank likely to keep repurchase rate unchanged this week – economists

By: African News Agency      15th January 2018 The South African Reserve Bank is likely to keep its repurchase rate at 6.75 percent this week, although it will probably lower its consumer inflation projections, financial group Investec said at the weekend. The Sarb is set to announce its decision on the repo rate on Thursday after a two-day... 

Eskom's bonds face suspension from South Africa exchange

By: Reuters     15th January 2018 South Africa's stock exchange has not received Eskom's interim results on time and if they are not submitted by Jan. 31 trading of the power utility's debt may be suspended, the Johannesburg Stock Exchange (JSE) said on Monday. Cash-strapped Eskom, the sole power supplier in Africa's most... 

Calls made for far-reaching Eskom restructuring as sustainability risks mount

By: Terence Creamer     9th January 2018 Eskom’s current financial situation makes it difficult to see any other path to sustainability than that of drastic cost-cutting, restructuring and bringing private equity into the business, Energy Intensive Users Group of Southern Africa (EIUG) past chairperson Piet van Staden argues. In an... 

City of Johannesburg to run citywide revenue collection blitz

By: African News Agency      8th January 2018 Johannesburg mayor Herman Mashaba will on Monday take part in a citywide revenue collection blitz to collect just under R1-billion in arrears amounts from over 2000 businesses which have failed to pay for city services, the city said. Mashaba would be joined by the Johannesburg Metro Police... 

Business Leadership SA slams executives’ reinstatement at Eskom

By: African News Agency      5th January 2018 Business Leadership South Africa (BLSA) has slammed the reappointment of Matshela Koko and Prish Govender at power utility Eskom, saying this flew in the face of complying with the rule of law and undermined efforts to restore confidence in the economy. BLSA said it was shocked and dismayed that... 

NUM welcomes Koko’s reinstatement at Eskom, but concerned about corruption

By: African News Agency      5th January 2018 The National Union of Mineworkers (NUM) said on Friday that it welcomes the reinstatement of Matshela Koko as group executive of power generation at Eskom, but called for a full investigation into allegations of corruption at the power utility. Eskom confirmed on Wednesday that Koko would be... 

Eskom reinstates embattled executives Matshela Koko and Prish Govender

By: African News Agency      3rd January 2018 South African power utility, Eskom confirmed on Wednesday that former acting chief executive Matshela Koko and former acting group executive for group capital, Prish Govender, have been reinstated after they were cleared in disciplinary hearings. Eskom spokesperson, Khulu Phasiwe, said that the... 

South Africa's power utility Eskom to postpone interim results announcement

By: Reuters     21st December 2017 South Africa's state owned power utility Eskom said on Thursday it will postponed its interim results announcement until early next year. The cash-strapped utility, which has been gripped by a governance crisis in its board, said it needs time to review the impact of the increase and for its... 

Vaal river dams increase levels, but DWS urges conservation

By: Megan van Wyngaardt     21st December 2017 The Gauteng dams which form part of the Integrated Vaal River System (IVRS) continue to climb up to higher levels following a period of consistent decline. The IVRS is this week in sharp contrast compared to what it was last year during the same time. The system is currently at 71.9% compared to... 

Gigaba backs lower tariff hike, says Eskom a drain on fiscus

By: News24Wire      18th December 2017 Finance Minister Malusi Gigaba said on Saturday that he supports the National Energy Regulator of South Africa (Nersa’s) decision not to grant the nearly 20% tariff increase Eskom had applied for as the current state of the economy wouldn’t have been able to support this. Nersa on Friday, granted... 

Eskom disappointed by Nersa allowance 

By: Megan van Wyngaardt     18th December 2017 State-owned power provider Eskom on Monday said it was “disappointed” with the National Energy Regulator of South Africa (Nersa) only allowing a 5.23% tarriff increase. The parastatal said in a statement that this only allowed revenue of R190.348-billion for the 2018/19 financial year. 

Rigging the nuclear outcome?

By: Saliem Fakir     15th December 2017 At the time of writing, it appeared nuclear would be ramped through before the African National Congress elective conference, which starts on December 16. New Energy Minister David Mahlobo says we need nuclear. There have been a lot of platitudes about jobs and industrialisation, and that nuclear... 

Appointment of new Eskom CEO a priority - Minister Brown

By: African News Agency      15th December 2017 Public Enterprises minister Lynne Brown said on Friday that the process of appointing a new permanent group chief executive for power utility Eskom was "a priority" and that the finalization of the investigation into suspended executives was of "paramount importance". This comes as news... 

Assistance in overcoming bridge challenges

By: Simone Liedtke     15th December 2017 Industrial rope access specialist Skyriders Access Specialists installed temporary access platforms to allow for critical routine maintenance on the Crocodile river bridge, in Mbombela, Mpumalanga. 

CPV plant’s success contributes to economic growth

By: Tasneem Bulbulia     15th December 2017 Being the only concentrated photovoltaic (CPV) power plant of its kind in South Africa currently, independent power producer Pele Energy Group senior asset manager Ziska Mc Gilton says the 36 MW ac Touwsrivier CPV project is continuously providing economic upliftment and support for surrounding... 

Medupi power station project, South Africa

By: Sheila Barradas     15th December 2017 Mitsubishi Hitachi Power Systems has completed delivery of the third boiler unit of the Medupi power station project. 

Koeberg Unit 1 passes 400 days of continuous operation

By: Schalk Burger     13th December 2017 Unit 1 of the Koeberg nuclear power station has reached the milestone of 400 days of continuous operation. State-owned power utility Eskom on Wednesday said this was achieved after the unit was shut down for scheduled refuelling, inspection and maintenance on September 19, 2016, after a safe,... 

SA power plant listed 4th dirtiest in world's 'Dirty Dozen' 

By: News24Wire      12th December 2017 South Africa’s Thabametsi project has been listed as one of the “Dirty Dozen projects”, twelve fossil fuel projects worldwide environmental groups say exemplify the massive volumes of public finances still flowing to fossil fuel projects, which are driving climate change. The list comes as world... 

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