Cape Town - The Department of Energy has said that no interdict was granted stopping it from signing 27 independent power producer (IPP) contracts with private sector companies on Tuesday.
Eskom referred Fin24 on Tuesday morning to the department of energy for comment.
The Ramaphosa government however announced that it will proceed with the signing as well as the other REIPPP projects and the Eskom-cap would not apply.
The National Union of Metalworkers of South Africa (NUMSA) claimed concluding PPAs for the 27 mainly wind and solar projects would push up electricity prices and reduce demand for coal power, threatening 30,000 jobs in the fossil generation industry, as it secured a last-minute injunction preventing the signing at South Africa's High Court.
"The court found that our application meets the standard for urgency and therefore granted us the interdict".
Court action by a South African trade union has blocked the signing of 2.2GW of renewables contracts, dashing hopes that today would mark the end of a years-long saga that has battered confidence in the country's clean energy programme. "The energy minister was forced to give an undertaking in court that he would not sign the IPP agreements on Tuesday until the matter has been given a full hearing by the High Court".
This is a victory for NUMSA. While the union says the projects threaten jobs and coal-fired plants, the government argues that renewable energy will stimulate economic growth and diversify South Africa's power mix.
"The IPP roll-out will raise the cost of electricity dramatically‚ because IPP's cost much more than coal-fired electricity".
"Electricity prices will skyrocket because of the IPP roll-out; while at the same time that Value-Added Tax and the fuel price are going up, workers are being paid slave wages of R20 per hour and less".
Eskom previously refused to sign the agreements with energy developers including Denham Capital-backed BioTherm Energy and ACWA Power International, saying they were expensive and that power from the projects wouldn't always be available. "They were attempting to impose this deal on us without consultation‚ but we stopped them‚" said Numsa.
Senvest Management LLC purchased a new stake in American Eagle Outfitters in the third quarter worth approximately $22,737,000. Chartwell Investment Partners LLC boosted its holdings in shares of American Eagle Outfitters by 129.7% in the 4th quarter.
Mizzou lost its first-round game in each of its last three appearances in 2011-13 and last won a game in the 2010 tournament. They've already made good on what Martin told them before the season: "You'll be the team that said they turned it around".
SunTrust Banks lowered Sensata Technologies from a "buy" rating to a "hold" rating in a research report on Friday, December 1st. In other news, EVP Steven Beringhause sold 7,588 shares of the firm's stock in a transaction on Wednesday, December 13th.
Authorities say a bomb threat has prompted all Solano Community College campuses to be evacuated on Monday. At 12:08 p.m., another call was placed making the same threats, this time from a female subject.
The raised forecast was in part due to expectations that USA tax cuts would boost the world's biggest economy, it said. The world's largest economy is expected to grow 2.9 percent this year and 2.8 percent next year.
Her audition is a memorable one as she wears a black "Rebel" t-shirt, white short-shorts, and knee-high velvet boots. Nico Bones had the look of a rock singer, with plenty of attitude, but no sign of talent in his song, "Worms".
Of the 141 ready meals analysed, 43% were high in salt , meaning they would typically carry a red notification label on the pack. The Chinese Catering Association UK said it had been encouraging members to produce dishes with lower levels of salt.
Although Sebastien Corchia has returned to training following a groin injury, he has not travelled with the squad to Manchester. That means it is still all to play for at Old Trafford and leaves United open to the possibility of crashing out on away goals.
Cowen reaffirmed a "buy" rating and set a $215.00 price target on shares of Raytheon in a research note on Thursday, January 25th. Ascend Capital Llc increased Mohawk Inds Inc (NYSE:MHK) stake by 25,662 shares to 145,804 valued at $36.09 million in 2017Q3.
And she has every reason to proceed forward and appear in this matter and defend herself in this", Cook Howard said. Jason Wesche said he'd like to donate his daughter's organs so others have a chance at survival. "I babysit kids.
The industrial products company reported $0.80 earnings per share for the quarter, hitting the Zacks' consensus estimate of $0.80. It improved, as 26 investors sold H shares while 34 reduced holdings. 7 funds opened positions while 6 raised stakes.
Exposure to Lead could Cause Heart Attacks
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US Stocks Turn Lower
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Wax statue of Kattapa to be fixed at the Madame Tussauds
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Sempra Energy (SRE) Stock Rating Reaffirmed by Guggenheim
The utilities provider reported $1.54 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.40 by $0.14. Chilton Investment Co Llc increased Anheuser Busch (NYSE:BUD) stake by 27,435 shares to 30,142 valued at $3.60M in 2017Q3.
Hubble captures new image of two colliding galaxies
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DJ Jeffries Is Coming To Kentucky
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Mourinho happy with Klopp decision
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Ensco Plc (ESV) Expected to Post Earnings of -$0.24 Per Share
The Messner & Smith Theme Value Investment Management Ltd holds 398,818 shares with $2.38M value, up from 235,589 last quarter. The highest price ESV stock touched in the last 12 month was $9.5 and the lowest price it hit in the same period was $4.1.