South Africa’s electricity reform programme has reached an important milestone. After years spent developing policy, legislation and market frameworks, the focus is increasingly shifting from design to implementation.Recent developments underscore this progress. The government has confirmed that the long-awaited electricity pricing policy will be published for public comment, the National Transmission Company South Africa (NTCSA) has launched its grid access unit to strengthen transparency and independence in grid access decisions and, most significantly, President Cyril Ramaphosa has endorsed the Eskom restructuring task team’s final report on separating the transmission system operator (TSO) from the Eskom group.Taken together, these developments reinforce South Africa’s commitment to building a competitive, transparent and investment-friendly electricity market. They also mark the beginning of what may prove to be the most challenging phase of reform: implementation.It is one thing to establish a legislative framework; it is another to embed those reforms within the country’s institutions and ensure they are delivered consistently over time. The leadership appointments due over the coming months at both Eskom and the National Energy Regulator of South Africa (Nersa) will therefore play an important role in determining whether reform momentum is sustained.The president’s endorsement of the task team’s recommendations provides important clarity on the future direction of the electricity sector. The separation of the TSO is central to creating a level playing field where multiple generators, buyers and sellers can participate in a competitive market with confidence.Eskom has welcomed the presidency’s announcement while emphasising the importance of a carefully sequenced implementation process. Managing execution risks is, of course, essential for reforms of this scale. Equally important, though, is ensuring that sequencing supports timely implementation rather than prolonging uncertainty. South Africa has already invested considerable time in developing the policy and legislative foundations for reform. The priority now should be steady, disciplined execution.The appointments of a new Eskom board chair after the end of Mteto Nyati’s term in October, and a new CFO after Calib Cassim’s retirement that same month, will be particularly significant. The incoming leadership will inherit one of the most significant institutional transitions in South Africa’s democratic history. South Africa has already invested considerable time in developing the policy and legislative foundations for reform. The priority now should be steady, disciplined execution.Success will require leaders who understand the objectives of the Electricity Regulation Amendment Act, appreciate the importance of an independent transmission system, and are committed to implementing reforms in a manner that strengthens both Eskom and the broader electricity sector.Implementation will depend just as heavily on regulation. Nersa has published an ambitious programme for finalising the regulatory frameworks needed for the South African Wholesale Electricity Market. These include the market code, trading rules, the vesting contracts framework, the wholesale price methodology and the transmission development plan rules. Collectively, these will provide much of the regulatory architecture required for a competitive electricity market to function effectively.Delivering this programme will require a regulator with sufficient technical capacity and specialised expertise. As South Africa’s electricity market evolves beyond a vertically integrated monopoly the regulatory environment will become increasingly sophisticated. Nersa’s capabilities will need to evolve accordingly.The regulator has already benefited from external expertise through initiatives such as the Electricity Market Advisory Forum. Over time though, much of this specialist knowledge should become embedded within the institution itself. Building this capability will strengthen regulatory certainty, improve market confidence and better equip Nersa to oversee an increasingly dynamic electricity sector.South Africa cannot afford prolonged uncertainty, institutional drift or repeated reconsideration of reforms that have already been debated, legislated and initiated. The stakes extend well beyond the electricity sector itself.Leadership continuity will also be important. The search is under way for a new CEO as Nomalanga Sithole’s term comes to an end in August 2026, while a permanent replacement is also required following the departure of former electricity regulator member Thembani Bukula, who stepped down in June. These appointments present an opportunity to build on the work already undertaken rather than revisit settled policy questions.Fresh perspectives and international experience in electricity market reform could prove valuable. Equally important will be ensuring new leaders appreciate both the complexity of the reforms under way and the importance of maintaining momentum. South Africa cannot afford prolonged uncertainty, institutional drift or repeated reconsideration of reforms that have already been debated, legislated and initiated. The stakes extend well beyond the electricity sector itself.A competitive and well-regulated electricity market is fundamental to attracting investment, expanding generation capacity, improving energy security and ultimately supporting economic growth and job creation. Greater competition also creates the conditions for more efficient pricing and improved customer choice over time, while strengthening the resilience of the electricity system.South Africa has made considerable progress in establishing the legislative and policy foundations for electricity market reform. The challenge now is to translate those reforms into functioning institutions and an operational market.The process now turns to leadership. Electricity & energy minister Kgosientsho Ramokgopa’s recommendations for these positions will be closely watched given their potential to shape the pace and effectiveness of electricity market reform. The appointments ultimately approved by the cabinet should reinforce the reform trajectory already set in legislation and policy, while strengthening the institutions responsible for delivering it.The appointments made at Eskom and Nersa over the coming months will therefore be about far more than filling vacancies. They will help determine whether South Africa can maintain the momentum behind one of its most important economic reforms and deliver the modern electricity market envisioned in the Electricity Regulation Amendment Act.Mbatha chairs the South African Electricity Traders Association.