This is indicated by a study conducted by KPMG, which focuses on the socio-economic impact of the Koeberg nuclear power plant in the Western Cape and South Africa in general from 2012 to 2025.
Presenting the report’s findings to the nuclear power plant on Thursday, KPMG director and economist Lullu Krugel noted that electricity is a key input for the majority of the economy’s products and processes, which makes Koeberg a contributor. direct to economic growth, both in the Western Cape and in South Africa.
Krugel said: “For example, during the period 2012/13 to 2015/16, Koeberg supported and stimulated economic activity in South Africa by an estimated amount of Rand 53.3 billion.
“The methodology used by KPMG to perform this review is based on internationally accepted standards, detailed information provided by Eskom and official statistics. “
Matshela Koko, interim CEO of the power company, said: “While we understand the importance of Koeberg within Eskom in terms of power generation, we needed an independent point of view. substantiated on the added benefits of Koeberg’s capital expenditures and day-to-day operations.
“We therefore asked KPMG to conduct a study on the impact of Africa’s only nuclear power plant on the socio-economic status of the province and of South Africa.
The impact of power plants
Commenting on the development, Public Enterprise Minister Lynne Brown praised the Koeberg team: “I encourage the gas and renewable energy sectors to undertake similar informative studies.
She noted, “In addition to keeping the lights on, it’s important that we understand the impact of power plants on our economy and our lives. Not just nuclear power plants; all power plants.
The Minister continued: “They [power stations] generate jobs, and they generate work for the construction industry, for maintenance crews, and for producers or a multitude of goods and services. They stimulate – and sometimes wear almost on their own [the] entire local economies and communities.
“The shift from coal to an energy mix is not only complex, but it is also very emotional for many people. These are the livelihoods of the people, what the country can afford and the global commitments to climate change and there are strong opinions for and against nuclear production. Read more…
The Minister further praised Eskom for leading the study, stating that: “It not only contributes to the emotional noise we receive, but gives a little more context to what we have; to give a little more empirical information on what fuels the energy mix.
Koeberg nuclear power plant – lifetime
Respond to ESI Africa on what will happen when the plant reaches its lifespan; Koko revealed that the life of the original plant has been extended by a decade, from 50 to 60 years.
Koeberg is Africa’s only nuclear power plant and has an installed capacity of 1,860 MW, which supplies 50% of the Western Cape’s energy needs and about 5.6% of South Africa’s energy needs. Read more
It is one of Eskom’s most reliable and cheapest factories to operate, the company noted.