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Wednesday, December 3, 2008.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

On Tuesday, business, organised labour and local government pledged their support to government's national energy efficiency campaign. This was ahead of power utility Eskom's expected maintenance period in January.

Department of Public Enterprises director general Portia Molefe said that South Africa's electricity savings had, to date, equated to a "paltry" 1,5% year-on-year.

She asserted that more had to be done and that everyone in the country had to realise that this was a real challenge.

Meanwhile, Deputy President Baleka Mbete said that government was committed to gradual and systematic phased increases in electricity tariffs, rather than one-off hikes. But she noted that this would only be possible through energy conservation.

South Africa's Industrial Development Corporation said that the pre-feasibility study for a 129-billion rand coal-to-liquid plant it was conducting with Sasol, was due in March 2009.

If successful, the project was scheduled for completion in 2016. The first fuel is expected to come on stream that same year.

IDC chief executive Geoffrey Qhena said the state-owned financial lender would invest at least 60-billion rand over the next five years, as a global credit crunch bites and companies seek alternative funders.

Also making headlines:

Zimbabwe introduces new banknotes as inflation soars.
New vehicle sales slump as the local economy deteriorates.
South Africa's house prices rise, but the sector remains under pressure.
And, economic circumstances have become ‘a test for South African policy'.

That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.

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