For developing economies, the availability of cost-effective, dispatchable baseload electricity is crucial for the growth of electricity intensive industries that can drive economic progress and improve living standards.
This underscores the need to address the proverbial elephant in the room without the ideological haze of international climate agreements or theoretical doomsday hypotheses. There is a real need here and now to apply pragmatism and do what is sensible for a reliable electricity supply.
In the interim, older power plants should be refurbished to maintain supply stability. Investment in unreliable and unproven renewable electricity sources should be reconsidered, as they are ill-suited to meeting developing country's long-term economic demands, particularly in the mining, manufacturing, and agricultural sectors. Furthermore, over-reliance on imported refined products could jeopardize developing country's energy sovereignty and exacerbate balance of payments issues.
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A vision for the future: nuclear power
- One proposed solution is the development of nuclear power stations, which could bring significant benefits to developing countries. Such projects would not only boost electricity supply but also support regional development through enhanced infrastructure, increased economic activity, and the creation of jobs. Local municipalities could see immediate benefits in terms of infrastructure expansion, including roads, water provision, and housing for workers.
- The nuclear projects exemplify the kind of forward-thinking investment in reliable, cost-effective electricity infrastructure that is necessary to support developing country's future economic growth.
The future of electricity in developing countries needs to focus on those technologies which are efficient and effective. In developing countries, these are High-Efficiency, Low-Emissions (HELE) coal-fired, gas and nuclear power stations. It is a separate exercise to ensure that all technologies are kept free of corruption at all levels and run efficiently. It is the government's role to give priority to the engine rooms of existing and future growth and employment in the economy.
Electricity in developing countries such as South Africa is the major necessity for business and associated development required for future economic growth.
Nuclear and HELE coal represents the most viable options for providing the reliable, dispatchable baseload electricity needed to support the country's industrial and economic development. The governments must focus on repairing the damage to investor confidence caused by ongoing electricity disruptions and ensure the introduction of adequate, competitively priced electricity supplies to sustain future growth.
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About the Authors
Ronald Stein is co-author of the Pulitzer Prize nominated book Clean Energy Exploitations.
He is a policy advisor on energy literacy for the Heartland Institute,
and the Committee for a Constructive Tomorrow, and a national TV
commentator on energy & infrastructure with Rick Amato.
Robert Jeffrey is
an economist, business manager and energy expert. He has masters
degrees in economics and holds a PhD in Engineering Management. He was
on the economic round table advising the South African Reserve Bank.
Olivia Vaughan
holds a Bachelor of Commerce in Law and a MBA and operates across key
sectors in the circular economywith focus on sustainable systems and the
built environment. She lives in the Eastern Cape of South Africa.