President Cyril Ramaphosa today delivered his 2025 Budget Vote address. High on the president’s list of promises was that cheaper electricity was on the cards for South Africans.
“We are putting in place the foundations for a competitive electricity market to unlock massive new investment in energy generation,” said Ramaphosa.
He said they were working with stakeholders that would ensure more renewable energy powers the country’s economy.
RAMAPHOSA SAYS THE ENERGY SECTOR IS MAKING PROGRESS
The president said the energy sector has made outstanding progress in reducing the severity and frequency of load shedding in recent months.
“There was a time when daily load shedding was the norm. Now, it is very much the exception,” he continued.
According to Ramaphosa, the country has also made significant progress towards enabling innovative public and private investment in the transmission network.
ELECTRICITY REMAINS A PRIORITY
A Just Energy Transition Project Management Unit in the Presidency has been established. They are growing the pipeline of just energy transition projects in various municipalities. The unit also implements skills development, electricity transmission and renewable energy generation.
“Total international pledges to support South Africa’s just energy transition now amount to $12.8 billion, or around R230 billion,” said Ramaphosa.
He said the investment would go directly to renewable energy projects. He concluded by saying that as it stands, South Africa is in the lead with just energy transition.
IS LOADSHEDDING A THING OF THE PAST?
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