Power hike could surge beyond the 10% hinted to by Nersa as Eskom hunts R23bn more in courts

South Africans should brace for power hikes of about 10% this year after the National Energy Regulator of South Africa (Nersa) finalised a court-ordered re-adjudication of Eskom’s previous applications. However, the increase could be materially higher should Eskom prevail in its legal endeavour to have a portion of a R69-billion equity injection added immediately to its allowable revenue. Nersa announced on January 28 that the utility was entitled to recover an additional R6-billion through the electricity tariff following its re-adjudication of three regulatory clearing account (RCA) applications for the 2015 to 2017 financial years and a supplementary tariff application for the 2019 financial year.
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Stellenbosch municipality to consider alternate energy sources

Western Cape Finance and Economic Opportunities Minister David Maynier and Local Government, Environmental Affairs and Development Planning Minister Anton Bredell have welcomed a decision by the Stellenbosch municipal council to consider generating and using alternate electricity energy supplies to beat load-shedding and become more energy resilient. “Through the Municipal Energy Resilience (MER) Project, the Western Cape government will be supporting the Stellenbosch Municipality in its aim to become energy resilient. The MER project is spearheaded by our Green Economy unit at the Department of Economic Development and Tourism, which is working in collaboration with the Department of Local Government and Provincial Treasury to assist municipalities to take advantage of the new energy regulations, which may include purchasing of energy directly from independent power producers (IPPs),” they say in a joint statement.
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CSIR, Nedbank join RES4Africa to further renewable energy development

Pretoria-based research organisation the Council for Scientific and Industrial Research (CSIR) and financial services provider Nedbank have become members of renewable energy lobby organisation the Renewable Energy Solutions for Africa (RES4Africa) Foundation.

Their membership was approved and made official by RES4Africa’s steering committee, following a solid working relationship established between RES4Africa, CSIR and Nedbank over the past few months.

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Motsepe’s AREP acquires 40% stake in SOLA Group

African energy company African Rainbow Energy and Power (AREP), which was founded by Dr Patrice Motsepe, has expanded its investment in the renewables sector with the acquisition of a strategic stake in the SOLA Group. The companies joined forces at the end of 2020, with AREP acquiring a 40% stake and becoming the largest individual shareholder in the group. The deal also includes a significant investment into the group to fund further expansion.
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