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Adios South African Nuclear Renaissance
Looks like our little financial fiasco is trickling out to other countries. Perhaps the lack of a nuclear option will force them to start thinking more sensibly about how to fix their mess. (Besides charging close what it costs for electricity.)
Eskom's Nuclear Plan Hit by Crisis - World Nuclear News - 25 Sep 08
"Plans by South African utility Eskom to invest heavily in new nuclear generating capacity look uncertain. Political turmoil within the ruling African National Congress (ANC) and doubts about the utility's ability to secure international funding for the program have fuelled concerns that the country's energy woes are far from resolution."
"The question though on industry watchers' minds is whether Eskom, in the current climate, has the muscle or influence any longer to fund a nuclear expansion program. The utility has been downgraded by credit rating agency Moody's, with further downgrades also possible from Standard & Poor's and Fitch Ratings.
The current global economic crisis may also make foreign funding hard to come by. The country's National Treasury has committed to a mere 60 billion rand ($7 billion) over the next three years, leaving a very significant shortfall to reach Eskom's 343 billion rand ($42 billion) expansion plans."
Eskom's Nuclear Plan Hit by Crisis - World Nuclear News - 25 Sep 08
"Plans by South African utility Eskom to invest heavily in new nuclear generating capacity look uncertain. Political turmoil within the ruling African National Congress (ANC) and doubts about the utility's ability to secure international funding for the program have fuelled concerns that the country's energy woes are far from resolution."
"The question though on industry watchers' minds is whether Eskom, in the current climate, has the muscle or influence any longer to fund a nuclear expansion program. The utility has been downgraded by credit rating agency Moody's, with further downgrades also possible from Standard & Poor's and Fitch Ratings.
The current global economic crisis may also make foreign funding hard to come by. The country's National Treasury has committed to a mere 60 billion rand ($7 billion) over the next three years, leaving a very significant shortfall to reach Eskom's 343 billion rand ($42 billion) expansion plans."