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Edition: U.S. Article Comments (0) Save Email Print Reprints Most Popular Most Shared NEWSMAKER-World's richest man, Slim, a born wheeler-dealer 10 Mar 2010 Chile lifts tsunami alert on coast after tremors | Video 2:53pm EST O'Brien shakes off "Tonight Show," hits the road 3:01pm EST Iran warns neighbors over U.S. presence in the Gulf 5:09am EST Sushi chef, restaurant charged with serving endangered whale 2:05pm EST NEWSMAKER-World's richest man, Slim, a born wheeler-dealer 10 Mar 2010 Smartphones will shake up paid content debate 8:41am EST Sushi chef, restaurant charged with serving endangered whale 2:05pm EST FDA rules out bisphosphonate, thigh fracture link 10 Mar 2010 U.S. herpes rates remain high - CDC 09 Mar 2010 Pictures A selection of our best photos from the past 24 hours. Slideshow Sout Africa may face power cuts without loan Agnieszka Flak JOHANNESBURG Thu Mar 11, 2010 3:29pm EST Cityscape of Johannesburg in South Africa, a venue of the 2010 World Cup, February 18, 2010. Credit: Reuters/Euroluftbild.de JOHANNESBURG (Reuters) - South Africa may need to enforce power cuts or raise electricity prices further if a disputed $3.75 billion loan from the World Bank is not approved, a senior government official said on Thursday. World The United States and Britain have threatened to withhold support for the loan for a coal-fired plant in South Africa, expanding the battleground in the global debate over who should pay for clean energy. "If they say no, we will either increase the tariffs or we will face serious blackouts," Director General at the Ministry of Energy Nelisiwe Magubane told Reuters in an interview. South Africa's state-owned utility Eskom is seeking the loan, intended to help expand power generation capacity to meet fast-rising demand in Africa's biggest economy. Eskom failed to get the 35 percent annual tariff rises it wanted this year, but the regulator still approved hikes of around 25 percent each year for the next three years, stoking inflation fears and anger from unions, businesses and consumers. Eskom was forced to step up investment after power cuts paralyzed the critical mining industry in early 2008. Magubane said she was surprised by the apparent opposition to the loan given that South Africa had not been asked to provide an alternative to coal in its application. She said South Africa, reliant on coal for 95 percent of its electricity needs, had shown sufficient proof of plans to cap emissions and reduce them after 2030. She said the target could be met even with the planned coal-fired plants because older, less efficient ones would be retired. Some $700 million of the loan is also meant to pay for renewables. RENEWABLES Magubane said the government was revising its current target for renewable power to a "more aggressive" one. She said the World Bank's Clean Technology Fund has already approved a $500 million loan for clean energy in South Africa. Should the bigger loan be approved, she said South Africa would seek to speed up Medupi to bring it back to its original schedule of having the first turbine commissioned by April 2012. But the second planned power plant Kusile, which like Medupi is expected to supply 4,800 MW, is likely to remain delayed. She said the government was discussing alternative means to help fund Eskom, which reported a 9.7 billion rand ($1.31 billion) loss for its last financial year. Part privatization and further government guarantees are still options, she said. Although Magubane saw no cheap alternative to coal for now, she sees nuclear power playing a critical role in the future, with the next new plant in operation by 2022 at the latest. South Africa's industry could also supply up to 5,000 MW via cogeneration which can be available in the short term, she said. A comprehensive plan, outlining the country's energy mix for the next three years, will be written into law by September. Speaking about fuel security, Magubane said the government supported both the 400,000 barrels-per-day refinery planned by national oil firm PetroSA and the 80,000 bpd coal-to-liquids plant eyed by petrochemicals group Sasol, but timelines for Sasol's Mafutha project may change. Earlier this week, Sasol's chief executive said the plant would not go ahead if the government did not help foot the bill. Magubane said the refineries were needed to replace aging plants. A deadline for present refineries to conform with clean fuel specifications will be announced in September, she said. (Editing by Matthew Tostevin) World Add a Comment More from Reuters Bank reform talks fail, Dodd to go solo WASHINGTON (Reuters) - Chances of a broad overhaul of U.S. financial regulation dimmed on Thursday after bipartisan Senate talks collapsed, helping boost bank share prices and jeopardizing a top Obama administration priority. Appetite for reform fading: NYSE Euronext CEO U.S. weighs post-Toyota "black box" for cars Biden appeals for Mideast peace talks without delay | Video Billionaire Pinera takes power as quakes rattle Chile Judge says Lehman examiner can make report public » More Top News Italy smelling just like Greece What helped precipitate the Greek debt crisis is a time bomb that could blast through hundreds of Italian cities too. Full Article EU readies for possible Spain woes Timeline: Greece's economic crisis Global Markets Plenty more where this came from Oil's steady climb back in sight of its 2010 high is spurring a bullish mood -- but the rally isn't telling the whole story. Full Article Oil traders place bet on "widowmaker" Oil storage play at sea over for now Commodities © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts.com Buyouts Europe: Buyouts Conferences: Venture Capital Journal EVCJ International Financing Review International Securitisation Report Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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