South Africa: Power hikes may scare investors
source: Fin24
2009/06/28 06:01:00 PM Jana Marais
Johannesburg – South Africa’s days as a cheap investment destination for power-intensive industries such as mines, smelters and manufacturing plants are numbered.
After this week’s 31.3% increase, South African electricity tariffs for industries are more expensive in dollar terms than those of China, parts of Eastern Europe, certain states in the US, as well as parts of Australia and New Zealand, among others, says Economists.co.za director Mike Schüssler. Prices to households are already above the global average. Although Eskom is giving a much larger discount to industrial clients – industries here are paying about 39% of what households are paying, compared to 60% in the US – we no longer offer a cheap alternative.
Thus far South Africa has achieved reasonable success in attracting power-intensive investors, including [continue reading]
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