The Act is expected to, among other things, open up opportunities to greater competition and reduced energy costs.
President Cyril Ramaphosa has signed into law the Electricity Regulation Amendment Act which sets out far-reaching reforms of the country’s electricity sector, including the establishment of a competitive electricity market.
The Electricity Regulation Amendment Act provides for the establishment, duties, powers and functions of the Transmission System Operator SOC Ltd – which must be established as an independent entity within five years – and for the National Transmission Company of South Africa to act as the TSO in the interim.
In addition, it requires the development of a market code that will establish rules to govern the future competitive market and outlines the process through which the code will be approved. In addition, the Act distinguishes between tariffs that must be set or approved by the regulator, such as network charges, and those which are subject to a direct supply agreement or arise as an outcome of a competitive market.
These changes are in line with the broader reforms guided by the Energy Action Plan and the Eskom Roadmap, which aim to modernise and transform South Africa’s electricity system to end load shedding and ensure long-term energy security.
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