Energy

5 important things happening in South Africa today

Staff Writer

 ·21 Dec 2022

Here’s what is happening in and affecting South Africa today:

• Electricity price hike: Energy regulator Nersa will not be making any decisions on Eskom’s application for a 32% price hike this year, putting the final say on the agenda for a special meeting to be held early in 2023. The decision has been twice delayed after Nersa’s electricity subcommittee could not get the numbers to add up in its methodology. Eskom wants a massive tariff increase so that prices reflect the cost to generate power. [Moneyweb]

• Goodbye Public Enterprises: The ANC conference has closed for the year and will reconvene in January 2023 to handle outstanding policy issues. The party hasn’t adopted any policies but has given an indication of where it stands on some: it wants the R350 social grant to continue as a basic income grant, and it wants the Department of Public Enterprises scrapped with SOEs moved into their respective line portfolios. [News24]

• Tshwane sinking: The City of Tshwane is dealing with a major sinkhole crisis, with 200 new sinkholes opening up in the region over the last five years. The city has had to budget almost R30 million to address the issues. The issue is wider than Tshwane, however. Sinkholes are geographically limited to areas where dolomitic rock occurs — about a quarter of Gauteng and parts of other provinces across the country are underlain by dolomitic rock. [TimesLive]

• Ramaphosa corruption: President Cyril Ramaphosa has doubled down on his stance against corruption within the ANC, despite his credibility in the fight being dented by the Phala Phala scandal. In his closing address to the ANC conference, he said the party would continue its path to reform and would not be distracted by certain elements from within to cause disunity and conflict among members. [Daily Maverick]

• Markets: South Africa’s rand held on to gains against the dollar on Tuesday after President Cyril Ramaphosa was re-elected as leader of the governing African National Congress. On Wednesday, the rand was trading at R17.35/$, R18.40/€ and R21.11/£. Brent crude is trading at $80 a barrel. [Reuters]