Cape Town — Minister of Mineral Resources and Energy Gwede Mantashe has tabled the Electricity Regulation Bill that will open up the electricity market.
Mantashe tabled the bill in Parliament on Friday where President Cyril Ramaphosa also met with the presidential economic advisory council where they welcomed reforms in the electricity sector, IOL reported.
“The meeting further highlighted the importance of a comprehensive and well balanced approach in the execution of the Energy Action Plan that will promote significant levels of new investment for the fundamental modernisation and restructuring of the country’s electricity sector,” said Ramaphosa’s spokesperson Vincent Magwenya.
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The Bill will strengthen the role of the National Energy Regulation of South Africa and will make provisions for transitional arrangements for the creation of the transmission system operator.
As part of the measures, they need to open up the electricity market and bring in other players.
Ramaphosa said the Electricity Regulation Bill’s aims to create a competitive electricity market, sharing similar sentiments by Mantashe who said the Bill was important for the sector.
Elsewhere, Minister of Electricity Kgotsientso Ramokgopa addressed the media today on the implementation of the Energy Action Plan, saying load shedding is not where it should be.
“The levels of load shedding are not going down to where we want them to be. We are addressing this with the urgency that it requires,” he said.
[WATCH] “The levels of load shedding are not going down to where we want them to be. We are addressing this with the urgency that it requires.”-Electricity Minister Kgosientsho Ramokgopa while giving progress on implementation of the Energy Action Plan. pic.twitter.com/X9myqCcEuc
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Compiled by Matthew Petersen
