South African government to establish a bustling energy market

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News flash

  • Government is expected to launch the next phase of Operation Vulindlela, which is aimed at accelerating the implementation of structural reforms.
  • ย This is according to the Medium-Term Budget Policy Statement (MTBPS) released by National Treasury on Wednesday.ย 
  • Operation Vulindlela is a joint initiative of the Presidency and National Treasury to accelerate the implementation of structural reforms and support economic recovery.

Government has set its focus on Eskomโ€™s restructuring as a priority and to establish a bustling energy market, with adequate supply for a growing economy.

โ€œThe cumulative effects of reforms include improved power station performance and no โ€˜load sheddingโ€™ since 26 March 2024. The Electricity Regulation Amendment Bill was signed into law in August of this year.

โ€œThis, together with the creation of the National Transmission Company of South Africa, which began operating on 1 July 2024, is establishing rules and procedures for a competitive electricity market.

โ€œThe ongoing Energy Action Plan has boosted efforts to restore energy availability and procure new generation. By end-August 2024, project registrations with South Africaโ€™s energy regulator exceeded 8500 megawatts,โ€ the MTBPS stated.

Author: Bryan Groenendaal

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