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Just energy transition to be job-positive, but youth skills and businesses crucial

South Africa’s transition from fossil fuel dependence to a renewable energy-based economy will add more jobs than will be lost in fossil fuel value chains, but the skills that young people have to participate in the transition, including by establishing careers and businesses in nascent value chains, is a central element of any just energy transition discussion. These were some of the views expressed by a range of energy industry representatives who spoke during the ‘Youth dialogue on the Just Transition’ webinar hosted by the Department of Mineral Resources and Energy (DMRE) and the South African National Energy Association on March 16.
March 17, 2023 by

Hyprop results show retail recovery after Covid-19

Strong trading metrics across real estate investment trust (Reit) Hyprop’s portfolio of retail properties in mixed-use precincts in key economic nodes for the six months to December 31, 2022, have led the company to conclude that these areas have recovered from the impacts of Covid-19 and that retail remains relevant to consumers.  
March 17, 2023 by

Large industrial customers face 19.09% electricity hike on April 1

The National Energy Regulator of South Africa (Nersa) has published retail tariff adjustments for 2023/24 that include a 10% increase for poor residential customers, instead of the 18.65% approved for the standard tariff. This lower hike to poor customers will be paid for through a 29.53% increase in the so-called affordability subsidy paid by large electricity consumers, which will result in their tariffs being hiked by 19.09% on April 1. The adjustments flow from the regulator’s recent approval of Eskom’s Retail Tariff and Structural Adjustment (ERTSA) application, which was submitted following Nersa’s January 12 approval of an average tariff increase of 18.65% for Eskom’s standard tariff customers.
March 17, 2023 by

Mayor shares tangible progress on loadshed-proofing Drakenstein

The Drakenstein municipality, in the Western Cape, has reiterated its commitment to delivering quality municipal services and that its Eskom Loadshedding Resilience Plan will be delivered sustainably.

Executive mayor Conrad Poole says in a release issued on March 16 that Drakenstein will not be a municipality that misleads its community with quick and grand promises of alternative energy solutions that will supposedly replace Eskom and get the area off the grid.

March 17, 2023 by

Transmission infrastructure should also be privatised, investment firm argues

While electricity generation capacity in South Africa is increasingly being privatised and decentralised, the government has stated that transmission infrastructure must remain in the hands of the public sector to ensure equal access. However, uncertainty remains regarding whether the government will be able to expand the transmission grid sufficiently and quickly enough to accommodate the plethora of renewable electricity generation projects that are being held up by transmission bottlenecks, particularly in the Northern Cape, where the most opportunities for renewable energy generation capacity lie.
March 17, 2023 by

Eskom’s 18.65% hike has been tabled in Parliament opening way for April implementation

The average tariff increase for various categories of Eskom customers arising from the National Energy Regulator of South Africa’s (Nersa’s) recent allowable revenue decision has been tabled in Parliament as is required for these increases to be legally implemented on April 1. On January 12, Nersa approved revenue of R318-billion for the State-owned utility for 2023/24 and R352-billion for 2024/25. Once translated to increases in Eskom’s standard tariff, these revenue increases amount to a hike of 18.65% for this financial year and 12.74% in 2024/25.
March 17, 2023 by

S&P places Eskom on CreditWatch positive on expected government support

Ratings agency S&P Global Ratings has placed its ratings on State-owned utility Eskom on CreditWatch with positive implications, including its ‘CCC+’ issuer credit rating and ‘zaB’ South Africa national scale long-term rating. S&P attributes this to the South African government’s planned R254-billion ($14-billion) debt relief agreement, which the agency expects will address Eskom’s near-term debt obligations once implemented and give the utility room to focus on operational improvements and electricity sector reform targets.
March 15, 2023 by

NRF CEO Dr Fulufhelo Nelwamondo named SAIEE Engineer of the Year

Independent statutory body the National Research Foundation (NRF) CEO Dr Fulufhelo Nelwamondo has been named Engineer of the Year by the South African Institute of Electrical Engineers (SAIEE) at its 2022 Annual Awards held at the Indaba Hotel and Conference Centre, in Johannesburg, on March 10. The SAIEE Engineer of the Year Award is conferred on a member of the SAIEE judged to have energetically and voluntarily worked towards promoting electrical science and its applications for the benefit of its members and the Southern African community.
March 15, 2023 by

Massmart, RCS offer retail customers solar funding loans

Mass retailer Massmart, in partnership with consumer finance company Retail Credit Solutions (RCS), has introduced a solar energy funding solution in the form of a loan of up to R250 000 for customers wanting to invest in alternative energy sources to cope with loadshedding. Massmart offers flexible payment plans in which fixed monthly repayments can be tailored to the customer’s monthly expense budget. To achieve this, the repayment period can be extended from 12 to 60 months, the company said.
March 15, 2023 by