President Cyril Ramaphosa has reiterated the importance of the creation of a fully independent, State-owned transmission company to the development of a competitive electricity market where there is fair access to all market participants.
Speaking to the Steel and Engineering Federation of Southern Africa (Seifsa) following his recent endorsement of the Phase I report of the Eskom Restructuring Task Team, which confirmed the feasibility of establishing a Transmission System Operator (TSO) with grid assets, the President outlined three objectives for Phase II.
These included minimising financial, operational and fiscal risk; strengthening energy security; and contributing to reducing the cost of electricity.
“We will undertake this restructuring carefully and responsibly. We will safeguard the financial sustainability of Eskom. We will protect energy security. And we will ensure that workers are treated fairly,” Ramaphosa said.
No direct reference was made to the National Union of Mineworkers’ threat of legal action against the unbundling, or to remarks by Eskom chairperson Mteto Nyati raising questions about the timing of the asset transfer to the TSO, as well as potential financial risks associated with transferring assets valued at R110-billion from an entity that had major debt obligations.
