South Africa Adopts New Electricity Law to Promote Open Market

  • 📰 brieflyza
  • ⏱ Reading Time:
  • 29 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 68%

BUSINESS 뉴스

ENERGY,ELECTRICITY MARKET,SOUTH AFRICA

President Ramaphosa signs Electricity Regulation Amendment Act, paving the way for a more competitive electricity market.

The Electricity Regulation Amendment Act aims to establish an open electricity market where wholesale buying and selling can occur. President Cyril Ramaphosa signed the Act into law, stating it will be effective in January 2024. Two sections will be implemented later. The Act mandates the establishment of a Transmission System Operator SOC Ltd within five years.

This operator will act as a marketing operator, providing a transparent and non-discriminatory trading platform for power market participants. The trading platform is envisioned as a competitive multi-market structure to regulate independent producers' buying and selling. The Act also includes penalties for individuals found in possession of stolen cable or Eskom infrastructure, imposing fines of R5 million or a 10-year prison sentence. Recently, a man was arrested in Durban in September after public members alerted the police to cable theft at a substation

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 10. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Big change for electricity market in South Africa — but one big issue remainsPresident Cyril Ramaphosa has proclaimed an implementation date for the Electricity Regulation Amendment Act.
출처: mybroadband - 🏆 11. / 67 더 많은 것을 읽으십시오 »