The public will inevitably pay for the debt creating nuclear power plants would cost the country, writes Vuyani Maqanda
20 June 2020 - 08:00The department of mineral resources and energy’s request for information for modular nuclear plants attempts to manipulate the SA public into believing that a build-own-operate and transfer model, as well as modular nuclear construction, are less costly.
The model has a bearing on the sovereignty of a country because the vendor country can withhold servicing the nuclear plants if there is conflict between the two countries. For example, work at the Akkuyu plant stopped briefly after Turkey shot down a Russian jet.Stating that “there will be no immediate call for funding from the state” obscures the high future repayments required, irrespective of the power purchase agreement SA can work out with the vendor.
Ownership of new nuclear plants has been a contentious subject in SA, with both Eskom and the department indicated as likely owners at different times. The government’s ability to service vendor debt will be affected by the low economic growth that prevailed even before it was exacerbated by Covid-19.Coming off an extremely low base indicates that even a prospective recovery will not take SA out of the low growth path immediately.
Justifying the request for information by referring to the Integrated Resource Plan 2019 is little different from the Zuma government sticking to the outdated IRP 2010 for years so as to claim nuclear generation was needed.
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