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Home›Local News›Saving Eskom: Govt talks to coal and renewables about lowering prices

Saving Eskom: Govt talks to coal and renewables about lowering prices

By Micheal van Wyk
October 2, 2019
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South Africa’s limping economy is likely to be further crippled unless the price of electricity is brought down. Eskom’, which provides about 95% of South Africa’s power, saw energy costs increase by 17% in its most recent financial year, due to higher coal charges and increased production from independent power producers.

Therefore, various government departments are in talks with both coal and renewable energy producers to ask for lower-cost supplies as the government tries desperately to resuscitate the country’s ailing power utility.

“Government and industry must actively work together in finding and implementing proposals for the betterment of the economy and the creation of the much-needed jobs.

“We are talking to them, we are not instructing them. The steps are, one you talk to coal producers, they make a commitment, talk to renewables, they make a commitment, Minerals and Energy Minister, Gwede Mantashe said at the Joburg Indaba.

Coal producers plan more talks with the government over the supply and cost of the fuel, according to the Minerals Council South Africa, the country’s mining lobby.

“Careful consideration is being given to being mindful of competition regulation,” it said in a statement.

Mining still an attractive investment

Mantashe said reliable and secure supply of energy for the growth of the mining sector remains imperative.

“The mining and energy industry remain the bedrock of the South African economy. It is in our mutual interest that these sectors are provided with the necessary support to ensure they contribute positively to our country’s growth and development aspirations.”

He added that South Africa is still an attractive mining investment destination. “In 2018 alone, South Africa’s mining sector received over $3.2bn in investments, which created an estimated 5,000 jobs. We must continue to prospect and explore the world-class mineral deposits we have.”

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Mining Focus Africa provides valuable information on minerals’, events, exploration, energy and mining developments throughout Africa. It reports on the continent’s renaissance in mining and market opportunities associated with it.

Published 4 times a year, Mining Focus Africa is also available as a value-adding Digital online platform including weekly newsletter, online subscription and quarterly E-magazine downloads.

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