- The National Energy Regulator of South Africa (NERSA) has noted the incorrect and misleading comments on social media platforms alleging that Mr Thembani Bukula, the NERSA Chairperson, has a conflict of interest and would like to correct the misleading comments and provide the facts as follows:
The Chairperson of NERSA, Mr Thembani Bukula, appointed chairperson on 19 August 2022, is not conflicted. He resigned from his position as Non-Executive Director of Mahube Infrastructure upon his appointment as NERSA Chairperson.
Mahube Infrastructure Ltd is a special purpose acquisition company listed on Johannesburg Stock Exchange (JSE). The Company invests in infrastructure development projects such as those prioritized by the State in the energy, transport, and water sectors. They hold assets in wind and solar farms in South Africa under the country’s renewable energy independent power producer procurement programme (REIPPPP) where the state owned utility, Eskom, is the off-taker.
In their latest annual report, Mahube Infrastructure state that ‘Mr T Bukula retired as independent non-executive director and member of the Audit and Risk Committee of the Company, with effect from 21 October 2022.’
The law requires that upon appointment every Part-Time Regulator Member (Board Member) must disclose to the Minister of Mineral Resources and Energy his (or her) pecuniary interest in any company (firm or association) engaged in the electricity, piped-gas and petroleum pipelines industries. Mr Bukula, as the Part-Time Regulator Member has duly complied in this regard and did declare his interests before taking over his position.
Nersa stresses that in accordance with the law, there is no pecuniary interest that Mr Bukula stands to benefit pursuant to all decisions taken by the Energy Regulator. The Energy Regulator (Board) consists of nine (9) Members that make decisions on applications from NERSA licensees including Eskom. The decisions of the Energy Regulator are solely based on the thorough analysis of the application as well as facts and evidence presented to the Energy Regulator.
Author: Bryan Groenendaal
