Minister Mantashe says there is no universal access to energy. He says African economies are beset with intermittent electricity supply and high tariffs.
Mantashe says these impact adversely on industrial production and on the ability of the poor to improve their well-being. Responding to the National Energy Regulator’s recent approval of a 9% tariff increase for Eskom, Mantashe says Nersa’s formula for determining the price of electricity is backward.Mantashe says uncertainties in the global supply and security of petroleum resources provide greater resolve for African countries, like South Africa, to own refinery infrastructure capacity.
BP and Shell have said they would shut their joint-venture, the South African Petroleum Refineries operations indefinitely.The Africa Energy Indaba continues until Thursday.
It's clear to see to those who care to see that this black government has a knee in its neck. They are being coerced & bullied into shoving this fracking down our throats. At the end of the day we'll gain absolutely nothing cause we all know all the profits will go elsewhere.
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