Masondo raises R146bn South Africa debt forgiveness

David Masondo, South Africa’s deputy finance minister, suggested that investors forgive about R146-billion of sovereign debt in exchange for the national power utility meeting climate targets. In order to transition from the use of coal to generate electricity to renewable energy Eskom Holdings will need to borrow about R400-billion, equal to its current debt, and will need a “complementary transaction” to achieve that, he said in a speech on Tuesday.
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South Africa’s updated NDC climate pledge to be released ‘very soon’

Forestry, Fisheries and the Environment Minister Barbara Creecy reported on Tuesday that South Africa’s revised Nationally Determined Contribution (NDC), which is to be deposited with the United Nations Framework Convention on Climate Change later this year, is close to being finalised and will be presented to lawmakers “very soon”. In a briefing of the Portfolio Committee on Environment, Forestry and Fisheries, on the country’s preparations ahead of the COP26 climate negotiations scheduled for Glasgow, Scotland, in early November, Creecy reported that her department was in the process of synthesising the comments received during the public comment period, including those made by the Presidential Climate Commission (PCC).
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Mantashe appoints new Nersa CEO

Mineral Resources and Energy Minister Gwede Mantashe has appointed Advocate Nomalanga Petronella Sithole as CEO and full-time regulator member of the National Energy Regulator of South Africa (Nersa). Sithole’s appointment is for a five-year period, effective from August 25.
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DTIC establishes metering association

The Department of Trade, Industry and Competition (DTIC) has established the South African Metering Industry Association (Samia).

Since the designation of both residential electricity and water meters have created employment, and has benefited component manufacturing industries, the DTIC thought it well to establish the association.

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ANC offers strong endorsement of Eskom’s just energy transaction following lekgotla

The National Executive Committee (NEC) of the African National Congress (ANC) has given its backing to the just energy transaction being pursued by State-owned electricity producer Eskom. In closing remarks following the NEC’s September lekgotla, ANC president Cyril Ramaphosa said that the lekgotla welcomed the detailed planning Eskom had done for a just energy transaction at one power station, which “would ensure that workers and community wellbeing was assured and advanced in this process”.
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