The JSE has imposed a public censure and a fine of R3-million on State-owned utility Eskom over its failure to comply timeously with stipulations of the debt listings requirements (DLRs). Eskom is listed on the JSE as an issuer of debt securities and, therefore, has a continuing obligation to comply with the JSE DLRs.
Steel producer ArcelorMittal South Africa (AMSA), which has been bemoaning weak domestic demand conditions for several years, reports that it is witnessing signs of “green shoots” in manufacturing and has also expressed cautious optimism over a potential for a recovery in energy-, construction- and automotive-related demand. While reporting a 2% fall in volumes to 1.2-million tons in the first half of the year, as well as a material 10% slump in production to 1.2-million tons, largely owing to blast-furnace chilled hearth conditions at Vanderbijlpark in April and May, CEO Kobus Verster pointed to improving demand dynamics.
South Africa’s decaying water, electricity and logistics infrastructure presents a R100-billion a year repair and refurbishment investment opportunity that could provide much-needed stimulus for the declining manufacturing sector, Steel and Engineering Industries Federation of Southern Africa COO Tafadzwa Chibanguza has said. “Infrastructure spend in terms of the big capital projects is important for long-term industrialisation. [However], there’s also an important discussion that needs to be had at an intermediate level. You can actually run a massive scale industrialisation project just by repairing and rebuilding the current infrastructure.
Wind energy company Nordex Energy South Africa, which is building a new wind turbine concrete tower factory in Jeffreys Bay, says the ongoing construction is benefitting the region. “The construction of the plant is stimulating the local economy and fostering growth in the local supply chain through increased demand for raw materials and related goods and services, which is benefitting local businesses and suppliers,” says Nordex Energy South Africa sales head for Africa David Moncasi Hortet.
Gaia Fund Managers is raising $200-million for investment in African renewable energy plants and power grids with the assistance of Apex Group. The money will be raised through the Gaia Africa Climate Fund which will be domiciled in Luxembourg to allow US and European investors direct access. Apex Group will act as fund administrator.
State-owned power utility Eskom says 6.6-million out of its 6.9-million prepayment meters have successfully been precoded to ensure that customers will be able to continue to seamlessly buy electricity beyond the November 24 deadline. This is the cut-off date for all prepaid meters in South Africa to be recoded to continue to accept prepaid tokens.
Renewable energy development company Enertrag South Africa is a sponsor and participant of Phase 2 of the wind industry’s experiential renewable energy conversation across local schools in Mpumalanga through the energyDRIVE initiative. The company says it recognises the importance of engaging with stakeholders in the Mpumalanga province, including civil society, the business community and government, to contribute towards an energy mix that is best for South Africa.
Electricity and Energy Minister Dr Kgosientsho Ramokgopa indicates that he is in favour of grid-access rules that ensure as much new capacity is added as quickly as possible regardless of whether that new generation is procured through public or private processes. The Minister was responding to a question as to whether upcoming Renewable Energy Independent Power Producer Procurement Programme (REIPPPPP) bidding rounds could be threatened if the Energy Regulator refused to allow Eskom to reserve grid capacity for such projects.
Electricity and Energy Minister Dr Kgosientsho Ramokgopa has committed not to dismiss the more than 4 000 public comments received in response to the draft Integrated Resource Plan 2023 (IRP2023), the content of which has been heavily criticised. Instead, he has promised to host workshops with stakeholders, especially those 200-odd who had made “substantive” submissions.
Electricity and Energy Minister Dr Kgosientsho Ramokgopa reports that a review of South Africa’s electricity pricing policy will be launched with the aim of addressing a rising affordability “crisis”, which is undermining electricity access for a growing number of poor consumers. The review would be undertaken in consultation with the South African Local Government Association, Eskom, the National Energy Regulator of South Africa (Nersa) and other stakeholders, and could have far-reaching implications for the way electricity tariffs are set and how low-income households are subsidised.
INDUSTRY NEWS
WHERE TO FIND US
Address
9 Yellow Street
Botshabelo Industrial Area
Botshabelo, Free State
Call / Email Us
Tel: +27 (0) 51 534 1651
Email: info@transfix.co.za
