PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: Clarion Events Ltd

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

African Utility Week to Assist South African Industry Deal with Tariff Hikes and Carbon Taxes - The proverbial axe is falling on ‘business as usual' as every industry in South Africa, from mining to manufacturing to retail, is cringing at the thought of rising energy tariffs and the impending implementation of a carbon tax - African-Utility-Week.com
African Utility Week to Assist South African Industry Deal with Tariff Hikes and Carbon Taxes

 

NewswireToday - /newswire/ - Cape Town, South Africa, 2012/12/13 - The proverbial axe is falling on ‘business as usual' as every industry in South Africa, from mining to manufacturing to retail, is cringing at the thought of rising energy tariffs and the impending implementation of a carbon tax - African-Utility-Week.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Stemming the tide of rising tariffs
On the receiving end of tariff hikes, industry is dealing with three significant elements, namely the cost of electricity, uncertainty around sufficient electricity supply and carbon emission management. According to Shaun Nel, Project Director & Advisor, Energy Intensive Users Group of Southern Africa (EIUG),“the current request by Eskom to raise electricity prices by 16% per annum over 5 years will have a significantly negative impact not only on mining and industrial customers but small business, commercial and residential users too. These electricity prices are making South African industries uncompetitive in the global environment. These prices will reduce investment and decrease profitability which has an impact on employment.”

The proposed electricity price trajectory, which has risen from 17c/kWh in 2006 to 60c/kWh in 2012 and is projected to be R1,28/kWh by 2017/2018, could translate into an astounding 653% increase (compounded over 5 years) in some sectors and is in danger of pricing South African industry out of the global market.

Nel, who will be speaking at the 13th annual African Utility Week conference track on Large Power Users, however, is optimistic and concludes by advising that,“the EIUG doesn't believe that industry requires subsidies, we believe that if Eskom's costs are cut and that non electricity charges and taxes are removed from the tariff, industry will be able to grow and remain competitive. This demand increase for electricity from those sectors will then contribute to lowering the tariffs for residential users”, but Nel warns that,“the issue with Municipal tariffs must be addressed, as several studies have shown that Municipalities are significantly increasing tariffs on electricity to cross subsidise other services.”

Is that carbon tax on your plate?
In addition to an increasing tariff, South Africa is looking to introduce a carbon tax next year to reduce harmful greenhouse gas emissions, potentially adding to the pressures on large industry. The tax, however will be phased in, with nearly two-thirds of emissions being tax-exempt until 2020 to lessen the impact on industry. While there has been no official announcement on the status of the proposed carbon tax, communication from the Minister of Finance states that carbon tax will be a reality by early next year.

Treasury has also proposed a 60% tax-free threshold on annual emissions for all sectors, including electricity, petroleum, iron, steel and aluminium. The future for industry could hold a carbon tax of R120 per ton of CO2e (carbon dioxide equivalent) for emissions above the thresholds. The levy would come into effect in 2013/14, and increase by 10 % per annum until 2020.

The official announcement on carbon tax is awaited in the New Year, and only time will tell how industry will respond to the imminent implications of carbon taxes to long term strategies. Dealing with this issue at African Utility Week is Robbie Louw, Director of Promethium, who will give the details and explain how it impacts on the power sector. Even if the tax is not implemented in early 2013, Louw will explain what the issues are and how these can impact on the power sector in the future.

The dates for next year’s African Utility Week are:
Exhibition & Conference: 14-15 May 2013
Pre-conference Workshops: 13 May 2013
Site Visits: 16 May 2013
Location: CTICC, Cape Town

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Clarion Events Ltd

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


African Utility Week to Assist South African Industry Deal with Tariff Hikes and Carbon Taxes

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Annemarie Roodbol - ClarionEvents.com 
+27 21 700 3558 annemarie.roodbol[.]clarionevents.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Clarion Events Ltd securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Clarion Events Ltd / Company Profile


Read Energy Most Recent Related Newswires:

Vestas Secures Order for 101 MW in the United States
PPG to Distribute Wastewater Substrate-repair Products from Sauereisen
Enel Begins Operations At World’s First Commercial Geothermal-hydro Hybrid Power Plant
Vestas Secures 112 MW for Three Projects in France
ENGIE and Statoil Agree on the Renegotiation of Their Long-term Gas Supply Contracts
ENGIE and AES Andres Leverage Core Strengths to Provide Reliable and Competitive LNG Supply in the Caribbean
Power Costs, Inc. (PCI) and GE Power Collaborate to Link Energy Operations with Energy Trading for End-to-End Machine to Market Software Solutions
GE Oil & Gas Signs Agreement with TAG GmbH to Install New Tuning Maintenance (TUMAS) Software on Entire Fleet of Gas Turbines
ENGIE Announces Two New Major Collaborations to Foster New Innovative Green Gas Production Methods Across Europe
Enel Inaugurates Apiacás Hydropower Complex in Brazil
Steam and Gas Turbine Manufacturers Realign Strategies to Harness Growth Opportunities within Clean Power Generation
Enel Starts Construction of Peru’s Largest Solar PV Plant
GE and Maersk Drilling to Pilot Marine Digital Transformation
SolarWinds to Join the Discussion on Interoperable IT Management for Defense Forces at AFCEA’s TechNet Asia-Pacific 2016
BP and GE Launch New Offshore Digital Technology with Plans to Deploy Globally

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Triggr & Bloom

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)