South Africa’s Eskom considering asset sales, staff cuts after big loss

By Alexander Winning Johannesburg, July 23 : South Africa’s struggling state-run power firm Eskom said today it was considering cutting staff and selling assets after reporting a $171 million loss which underlined the gravity of its financial position. Eskom, Africa’s largest public utility, was embroiled in corruption scandals under former president Jacob Zuma and narrowly […]

Brazil power grid braces for demand swings during World Cup games

By Luciano Costa SAO PAULO, June 12 : The Brazilian government has prepared the country’s power grid to deal with the wild swings in demand for electricity as most people in the soccer-mad country tune out everything except their televisions to watch the national team play in the Fifa 2018 World Cup. Brazil comes to […]

Nordlink cable to Germany may initially lower Norway power prices – Statnett

By Lefteris Karagiannopoulos VOLLESFJORD, Norway, Jun 1 : A power cable being laid between Germany and Norway may lower Norwegian energy prices in its first years as wind power in northern Germany at times cannot be exported further south due to grid bottlenecks, Norway’s Statnett said. NordLink, a 1.4-gigawatt interconnector that will begin operations in […]

Russian sanctions-hit Power Machines likely to withdraw from JV with Siemens – Mordashov

By Polina Devitt and Christian Lowe ST PETERSBURG, May 25 : Russian power equipment producer, Power Machines, which was hit by the U.S. sanctions in 2018, will most probably withdraw from its Russian joint venture (JV) with Germany’s Siemens, its owner Alexei Mordashov said. Washington blacklisted Power Machines when it updated the list of companies […]

Rs 4,964 cr power subsidy default of Punjab Govt

State fails to reimburse amount to PSPCL; pushes the Powercom to the threshold of financial crisis DW Bureau | Chandigarh The cash-strapped and debt-ridden Punjab government has failed in its obligation to reimburse the state power utility (Punjab State Power Corporation Ltd) an amount of Rs 4,964 crore till March 31, 2018 on account of […]

Indonesia caps domestic coal price for power stations, could hit miners

By Wilda Asmarini and Fergus Jensen JAKARTA, Mar 9 : Indonesia has capped the price of domestic coal for power stations at $70 per tonne for two years, in new rules issued this week, a government spokesman said on Friday. The Southeast Asian nation is the world’s biggest exporter of the dirty fuel and the […]