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DAM-L US Eyes Eskom elec. distribution/LS (fwd)



Date: Wed, 23 Aug 2000 11:02:11 -0800
To: irn-safrica@netvista.net
From: lori@irn.org (Lori Pottinger)
Subject: US Eyes Eskom elec. distribution/LS
Sender: owner-irn-safrica@netvista.net
Precedence: bulk

>From the SA daily Business Day.

                     US group keen on Eskom division


                     US ENERGY group Cinergy Corp has expressed an interest
in bidding for equity stakes in Eskom's
                     generation arm and in the regional electricity
distributors (Reds) currently being formed.

                     Several other big energy utilities, notably in the US
and Britain, are also believed to be poised to enter the
                     SA market should government move ahead with plans to
unbundle and partially privatise electricity utility
                     Eskom.

                     Cinergy Corp one of the larger US energy companies and
an SA consortium won the tender last week to
                     buy Johannesburg's Metro Gas business.

                     Kevin Chapman, Africa business development director of
Cinergy Global Power, Cinergy's international
                     development arm, said yesterday the group was watching
closely events linked to Eskom's
                     transformation. "We would be very interested in
bidding for equity stakes in the distribution and
                     generation sectors should government place these on
the market in the future."

                     Public Enterprises Minister Jeff Radebe announced this
month that competition would be introduced to
                     Eskom's generation business.

                     Chapman said Cinergy would look at involvement in
existing Eskom assets and would also consider
                     becoming an independent power producer.

                     He said opportunities could also arose out of
restructuring the distribution side of the electricity business.
                     Government was negotiating ways to merge the
distribution functions of Eskom and municipalities to
                     create between 10 and 15 Reds.


                     Aug 23 2000 12:00:00:000AM Robyn Chalmers Business Day
1st Edition

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      Lori Pottinger, Director, Southern Africa Program,
        and Editor, World Rivers Review
           International Rivers Network
              1847 Berkeley Way, Berkeley, California 94703, USA
                  Tel. (510) 848 1155   Fax (510) 848 1008
                        http://www.irn.org
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