Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Eskom urges clarity on nuclear power

Nov 09 2010 17:13 Sapa

Related Articles

Eskom seals DBSA funding deal

Eskom snitches kept in the dark

Eskom secures new loan

Eskom to probe more green options

Eskom seeks more independent power

Govt gives Eskom extra firepower

 

Top Stories

Gauteng road project costs rocket

May 25 2012 13:58

The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.

JSE halts 'incorrect' trade

May 25 2012 11:36

The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.

Sizeable drop in petrol price expected

May 24 2012 17:31

The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.

 
Share Share line Print
Cape Town - The government will have to make key decisions "soon" if it is to meet its target of new nuclear power capacity by 2023, Eskom CEO Brian Dames said on Tuesday.

He told journalists that South Africa's integrated resource plan (IRP) for electricity envisaged 9 000 megawatts of nuclear in the power mix.

"It's a long lead time," he said. "If you want (new capacity) in 2023, we would need a decision soon in order to make that."

Asked what this decision-making would involve, he said a nuclear plant needed a site, which required a significant amount of geotechnical studies.

"South Africa is fortunate in that Eskom has done a lot of that work (in identifying sites) in the last twenty-odd years," he said.

It also required extensive environmental impact assessments, with public participation.

After that would come the selection of the technology, followed by detailed siting work looking at how the project affected spatial development and communities in the area.

"So it's quite an extensive planning process, even before you start pouring concrete," he said.

At the same time, the nuclear regulator would have to license the design and construction of the plant.

Despite all these requirements, South Africa was at this stage still "okay" in terms of what the IRP was asking for.

"Eskom has made it always quite clear that the decision for the next power station beyond (coal-fired) Kusile needs to be made as soon as possible," Dames said.

"And when you say as soon as possible, literally you're really talking about not later than next year."

The decision would be that of the department of energy, which bore the responsibility of making sure the IRP was executed.

Dames said Eskom had not had discussions with any other country on how to take the nuclear programme forward since last it started and then stopped a procurement process.

"(But) we have certainly kept up to date what's happening globally around nuclear and the developments thereof," he said.

He said he was unable to give a number on how many nuclear plants there would be.

Eskom had "our own numbers" on dollars per kilowatt capital cost.

"But you only truly know once you contract and go through a procurement process," he said.

The recently defunct pebble-bed modular reactor (PBMR) had never been part of Eskom's expansion plan.

The utility included only proven technologies in its planning, and the PBMR had not been proven, Dames said.

South Africa's nuclear programme was put on hold in 2008 after Eskom invited Westinghouse and Areva to submit bids for their flagship products.

Eskom and the government were taken aback by the cost of the bids, reportedly in the region of $9bn.

 
 
Comment on this story
3 comments
Add your comment
Comment 0 characters remaining
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

NicolaaSmith

CIPPA equals automatic zero erosion in the constant item economy We do not have stable – as in fixed real value – money. The real value of money is generally accepted by the public at large to be stable – as in fixed – in low inflation economies, but this is not true. The be... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...