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DAM-L Eskom eyes global market/LS (fwd)
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Date: Wed, 11 Jul 2001 16:29:43 -0700
To: irn-safrica@netvista.net
From: Lori Pottinger <lori@irn.org>
Subject: Eskom eyes global market/LS
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From SA's The Mail and Guardian, July 12, 2001
Eskom eyes the
global market
OWN CORRESPONDENT AND REUTERS, Johannesburg | Thursday
------------------------------------------------------------------------
STATE-OWNED electricity supplier Eskom has set its sights set on
becoming a player in the global power industry by expanding into
South America, as well as India and China should opportunities arise,
says chairman Reuel Khoza.
Khoza said the electricity supply industry worldwide was moving
towards consolidation and warned that Eskom would not survive if it
remained only a regional player.
Eskom, the world's fifth largest power utility in terms of capacity,
was well into the first phase of expansion into Africa, he said.
"Our plans have been drawn up. In the second phase, our focus will be
on other emerging economies. We have a standing invitation from
China," he said.
Eskom has concluded joint ventures and agreements worth more than
$242m, stretching from Mozambique to Libya. It is currently eyeing a
stake in Uganda Electricity Board, which is soon to be privatised.
However, he said, this did not contradict government's plans to
unbundle Eskom. The government wants to split up the R70bn power
utility's distribution, transmission and generation functions and
introduce competition through the establishment of regulated
electricity distributors.
Khoza said government's plan to unbundle and restructure Eskom to
allow for competition in SA's power market within the next three to
five years would not affect the expansion plans.
"It may sound contradictory but we believe competition will help our
cause," he said.
One of Eskom Enterprises' key projects is the pebble bed modular
reactor, a mini nuclear reactor.
Eskom Enterprises CE Jan de Beer said the introduction of a second
international investor was likely to be announced next week.
De Beer said the new investor would be a "very big and successful"
foreign utility which would take between 10% and 12% of the project.
The introduction of the first foreign investor, British Nuclear
Fuels, which is acquiring about 20% of the scheme for R100m, has been
finalised.
Eskom transmission manager Peter O'Connor said the debt situation
with the Zimbabwean Electricity Supply Authority (Zesa) was
worsening. As a result, Eskom had cut its supply to Zimbabwe to 150
megawatts (MW) from 450MW and would consider taking equity in Zesa as
one option of reducing the debt of more than R100m.
"We have told Zesa that, should our big, paying customers require
this power, we will be forced to stop our supply (to Zimbabwe)," he
said.
An official said Eskom had withheld power from Zesa for several hours
this week. However, any cessation of power from SA is unlikely to
plunge Zimbabwe into darkness because the country also has access to
supplies from Mozambique, Zambia and the Democratic Republic of Congo.
--
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
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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