Eskom reinstates Power Alt private power purchase agreement
Dual-listed mining exploration and development company Jubilee Platinum on Thursday announced that State-owned power utility Eskom had, with immediate effect, reinstated its private power purchase agreement (PPPA) with Jubilee subsidiary Power Alt.
The reinstated PPPA was first entered into in December 2012.
Power Alt would immediately start supplying Eskom with all surplus capacity from its power plant and expected to deliver about 5 MW of power to the grid, which equated to an expected revenue of R3.5-million a month.
“The reinstatement of the PPPA by the national energy provider is welcomed but largely expected [owing] to the continued pressure on the supply of electricity in South Africa,” Jubilee CEO Leon Coetzer said.
Eskom on Thursday declared a power emergency and subsequently alerted its key industrial customers that they had to reduce their load by a minimum of 10% in line with regulatory protocols.
This declaration was the first of 2014, however, the utility had embarked on a similar intervention in November last year.
Jubilee said owing to the urgency for the immediate supply of power the term for the reinstated PPPA was yet to be finalised.
Coetzer added that the company would continue to review the potential of further increasing the power supply capability of its power plant to grow the related revenue exposure.
“We expect the need for private power sales to further grow leading into the winter months in South Africa when, historically, the power demand in the country further increases,” he said.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation