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Energy Bulletin – 10 July 2015

Energy Bulletin – 10 July 2015

South Africa and Russia sign energy agreement pacts Meanwhile in Russia, South Africa’s Department of Energy and Russian state-run nuclear energy company Rosatom have signed two memoranda of understanding on nuclear power co-operation. The agreements was signed on Wednesday the 8th of July in Ufa, Russia during a summit of the emerging BRICS nations. Reactors that are being considered are from Russia’s Rosatom and Westinghouse for South Africa’s planned 9,600 MW nuclear fleet expansion, an energy advisor said in June of this year. The government is planning to build six nuclear power plants by 2030 at an estimate cost of between R400-billion and R1-trillion. Critics of the proposed plan said that South Africa cannot afford it at the present time due to rising debt and slow economic growth. The South African government responded, that it needs to diversify its current power mix while expanding its capacity. The BRICS nations account for a fifth of the world’s economic output and 40 percent of its population, with ongoing talks about opening a Development bank with a reserve pool of roughly R1,250 billion. Increased tariff of 12.69% commenced on the 1st of July for all municipalities The tariff increase that was approved by NERSA (National Energy Regulator of South Africa) during November in 2014 was implemented on the 1st of April 2015 for Eskom direct customers and municipalities on the 1st of July 2015. This is not be confused with the public hearings that was held in Nasrec, Johannesburg. Where Eskom delivered a proposal to increase the electricity tariff by a further 9.6%, which NERSA rejected on several grounds. With a weakening...