Mavuso, Ackerman question efficacy of ‘Mafia State’ to turn the economy around

Realistically, South Africa will not see meaningful gross domestic product (GDP) growth within the next five years, Citadel Investment Services advisory partner and chief economist Maarten Ackerman has said. He spoke alongside Business Leadership South Africa CEO Busi Mavuso during a post-budget event hosted by auditors KPMG on February 23.
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CEF hits out at De Ruyter for ‘wild allegations’ about Russian involvement in SA gas power plans

The Central Energy Fund (CEF) has lashed out at former Eskom CEO André de Ruyter for speculating that Russia could be involved in its plans to take over soon-to-be-decommissioned plants and turn them into gas power stations. The CEF said it was “unfortunate” that it was put in a position where it had to respond to De Ruyter’s allegations.  
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Moves under way to appoint acting Eskom CEO, as De Ruyter’s interview sends shockwaves

The South African government reports that an acting Eskom CEO will be appointed “in due course” following the sudden departure of CEO André de Ruyter. De Ruyter’s exit more than a month before his expected departure of March 31 was confirmed hours after the airing of an explosive television interview in which he offered startling details about high levels of criminality at the utility and also indicated that a high-ranking “politician” was directly involved in corruption at Eskom.
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Investments in renewables reaches record, but inequitable high

Global investment in energy transition technologies – including energy efficiency technologies – reached $1.3-trillion in 2022, a new report ‘Global Landscape of Renewable Energy Finance 2023’, published by the International Renewable Energy Agency (Irena) and Climate Policy Initiative (CPI), shows. The investment was a new record high, up 19% from 2021 investment levels and 50% higher compared with investment before the pandemic in 2019.
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TotalEnergies, Sasol, Air Liquide sign CPPA for renewable energy developments

Energy company TotalEnergies has signed corporate power purchase agreements (CPPA) with Sasol South Africa and Air Liquide Large Industries South Africa for the supply of 260 MW of renewable electricity over 20 years. TotalEnergies will develop a 120 MW solar plant and a 140 MW wind farm in the Western Cape province to supply about 850 GWh/y of green electricity to the Sasol’s Secunda site.
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De Ruyter to leave Eskom with immediate effect

Andre de Ruyter, the chief executive of South Africa’s State power utility Eskom, will leave the company with immediate effect, Eskom said on Wednesday. Eskom said in a statement that the decision was taken following a special meeting between the company’s board and de Ruyter.
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Godongwana announces R254bn Eskom debt-relief package, with terms and conditions

Engineering News editor Terence Creamer gives an overview of the 2023 Budget delivered by Finance Minister Enoch Godongwana, including the announcement of a R254-billion Eskom debt-relief package and the conditions that apply to that package; the assumption that it would only work in tandem with tariff hikes and the user-pays principle being honoured; and the announcement of renewables tax incentives and loan support for small firms.
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Loadshedding to persist as EAF worsens, CSIR says

Research by the Council for Scientific and Industrial Research (CSIR) has indicated that the energy availability factor (EAF) of State-owned power utility Eskom has worsened, with this manifesting in worsening loadshedding. Speaking during a loadshedding statistics and water cuts briefing on February 22, CSIR Energy Systems Energy Centre principal researcher Warrick Pierce said the primary reason for this research being undertaken was to inform and assist decision makers to make smarter choices.
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Govt extends diesel fuel levy refund to foodstuff manufacturers

To limit the impact of the energy crisis on food prices, government has decided to extend a diesel fuel levy refund to manufacturers of foodstuffs for a period of two years, effective from April 1, 2023, to March 31, 2025. This, alongside an announcement of no increase in the general fuel levy, was announced during the National Budget speech for the 2023/24 financial year, which was delivered by Finance Minister Enoch Godongwana on February 22.
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Conditions linked to R254bn Eskom debt relief may lead to concessioning of coal plants

Conditions linked to R254bn Eskom debt relief may lead to concessioning of coal plants The R254-billion Eskom debt-relief package unveiled by Finance Minister Enoch Godongwana in his 2023 Budget includes a sweeping set of conditions that will restrict the State-owned utility’s capital expenditure to transmission- and distribution-related investments and could also result in coal-fired power stations being concessioned to private operators.
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