Eskom asks for 45% power tariff hike over next 3 years (South Africa)

08/01/2019 11:36 Electricity Market

news

South African state-run power utility Eskom has submitted a request to the domestic regulator NERSA (National Energy Regulator of South Africa) for a 45% electricity price hike spread over the next three years. Public hearings on Eskom’s demand for an initial 15% electricity tariff increase are expected to start later in January 2019.

This is much higher than the 4.41% increase over 2019-2020 that was already granted to Eskom by Nersa. The company argued that this 15% increase will be necessary to ensure the implementation of its current growth strategy.

 

Eskom suffers from significant financial difficulties and recently delayed its development strategy. The utility also scrapped its plans to add 9,600 MW of nuclear power capacity by 2030. Instead, it will focus on gas-fired, wind and solar power plants.

Source: www.enerdata.net

Daily (13.06.2019): WTI futures lost 4% on Wednesday, due to rising crude inventories and weaker demand outlook

13/06/2019 10:53:00

Crude oil prices tumbled on Wednesday, amid higher U.S. crude inventories and poorer demand outlook. US-China trade negotiation also weighed on prices. As a result, Brent crude plunged by 3.7% to $59.97 a barrel, while WTI futures lost 4% to settle at $51.14 a barrel.

<READ MORE

Norway powers up its largest onshore wind farm

13/06/2019 09:08:00

A 255.6MW onshore wind farm claimed to be the largest in Norway is now up and running.

READ MORE

Azerbaijan’s natgas exports up by 28%

13/06/2019 09:04:00

Azerbaijan’s natural gas exports showed a 28 percent increase year-on-year rising from 8.030 billion standard cubic meters in 2017 to 10.276 billion standard cubic meters in 2018, Trend reports citing OPEC Annual Statistical Bulletin.

READ MORE