Energy regulator Nersa has rocked the boat by granting three gas-to-electricity generation licences to Turkey’s Karpowership to anchor powerships at Saldanha Bay, Coega and Richards Bay in a late-night move at a special meeting of the board that came without any reasons and despite legal and environmental objections
The deal in which Karpowership is to supply about 1,220 megawatts of emergency power from floating ships has been mired in controversy from the start, with the eye-watering price tag raising the most questions. AmaBungane did the sums on what it will cost us and how much the Turkish conglomerate will pocket in a game-changing deal for the group that will make Eskom its largest client globally.
Apparently, Eskom is still to give its approval and the minister of environmental affairs, Barbara Creecy, must still weigh in on the latest move. She already once acted firmly and compelled the company to go by the book when Kapowership’s irregular bid to be exempted from a mandatory EIA and public participation process came to light.
It’s like former president Jacob Zuma’s nuclear push all over again. And we all know how that played out.
Meanwhile, the markets have stabilised this morning, with the rand is trading a touch firmer at R14.75 to the US dollar after Chinese property developer Evergrande said it would make tomorrow’s bond coupon payment. But risks remain to the negative side and all eyes will be on this afternoon’s FOMC decision and local CPI data.
Here’s a roundup of the world’s top and most interesting headlines:
SA Business
Goodbye TV licence, hello ‘household levy’ – SABC wants ‘access fee’ from subscription services – Fin24
These are the jobs that survived South Africa’s lockdown – and those that didn’t – BusinessTech
SA plans next phase of new 2,500MW nuclear plant – Biz Community
Global Business
China injects $18.6bn into banking system during Evergrande crisis – Bloomberg
IMF execs meet over charges boss changed data to favour China – AFP
Flying cars in 2024? This tech CEO says it’s commercially possible – CNBC
Markets
Bitcoin drops below $40,000 amid regulatory drumbeat, Fed risk – Bloomberg
Relief for markets as China’s Evergrande agrees payment to avoid default on key domestic bond – The Independent
US close: Dow extends losing streak – Share Cast
Opinion/In-depth
Interest rate swap deal of the Gupta kind: It’s a stalemate in Transnet vs Nedbank battle – Daily Maverick
Corruption in state-owned companies hurts low skilled workers the most: we show how – The Conversation
Secrecy around nuclear power in SA needs to be stopped, says OUTA – Biznews
Video
WATCH | The sky’s the limit: Pilot delivers essential supplies to remote SA communities – News24
The legacy of Occupy Wall Street 10 years later – The Street
China: making India look ever grander – AusBiz
