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South Africa Power Report Q1 2014

South Africa Power Market: New market analysis published


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2014-02-07 20:25:02 - South Africa Power Report Q1 2014 - a new market research report on companiesandmarkets.com

Late 2013 brought little joy to South Africa´s power market. The main supplier, public utility Eskom, announced in November 2013 that the country was facing an emergency in terms of electricity provision - something that we had been warning for some time. Continual delays to the provision of new power stations and ageing infrastructure at existing ones have combined to create an ever-widening electricity gap. South Africa´s over dependence upon coal as a source of power also limits Eskom´s options further. Renewable energy is gaining popularity in the country, with the third auction held since 2011 gaining 93 bids - 17 of which were granted preferred bidder status - but while renewables will help increase electricity generating capacity, they will

 

 

not solve South Africa´s fundamental power problems. Without investment in new facilities, and comprehensive upgrades of existing ones, power outages are set to continue.

In 2012, electricity generation in South Africa stood at 246.53 terawatt hours (TWh), representing a 1.32% increase on the previous year. Coal-fired sources of electricity accounted for nearly 95% of this figure, and we expect that coal will continue to play a major role in electricity production during the course of our forecast period, rising by a CAGR of 2.45% to stand at 295.93TWh in 2022. Economic growth - we forecast real GDP of around 3% every year during our 10-year forecast period to 2022 - and demographics will both drive demand upwards.

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