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Ramaphosa Calls Urgent Cabinet Meeting Over Plan For Old Coal Power Plants-News24
News24 reports that South African President Cyril Ramaphosa has called a special Cabinet meeting for today to discuss Energy Minister Kgosientsho Ramokgopa's plan to slow down the decommissioning of old coal power stations amid the ongoing energy crisis.
- The news website "understands that the special Cabinet meeting was called after the ANC's national working committee (NWC) on Monday approved a plan that would slow down the retirement of old coal power stations."
- "Prolonging the life of Eskom coal stations will be in direct conflict with SA's just energy transition and the climate goals it committed to at the COP26 conference in 2021." Some $8.5bn in foreign funding is tied to these goals.
- "The special Cabinet meeting is also expected to focus on the ramping up of emergency power as power-utility Eskom implemented stage six load-shedding."
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.