Eskom and NTCSA Complete Merger to Form New Electricity Transmission Company

Public enterprises Minister Pravin Gordhan and Eskom board chairperson Mteto Nyati have announced Eskom and the National Transmission Company of South Africa have satisfied all the requirements necessary to effect the merger and operationalisation of the newly formed electricity transmission company.

“NTCSA is now on course to be a duly constituted separate, distinct, and wholly owned subsidiary of Eskom Holdings as per the provision of the Companies Act.” “The separation of the Transmission Division from Eskom will now set the NTCSA on the path for operationalisation once the necessary statutory requirements as per the Companies Act have been concluded,” Nyati said.

The transmission division is the first to be spun off from Eskom into its own company, five years after President Cyril Ramaphosa announced a plan to divide the utility into three separate entities.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IPP contracts amended to sell to transmission companyNersa approvals brings unbundling closer.
Source: Moneyweb - 🏆 5. / 77 Read more »

Eskom signs training deal with Russian nuclear companyEskom signs training deal with Russian nuclear company
Source: News24 - 🏆 4. / 80 Read more »

Big win for Eskom’s split into three companiesSouth Africa’s energy regulator has given Eskom permission to transfer its Power Purchase Agreements-related powers and duties to the National Transmission Company South Africa.
Source: mybroadband - 🏆 11. / 67 Read more »

Southern Africa R254.8 billion fund to finance cross-border electricity transmission projectsThe financial facility will prioritise projects that help relieve congestion bottlenecks to regional electricity trading
Source: mailandguardian - 🏆 2. / 92 Read more »