President Cyril Ramaphosa has announced government’s plans to ensure the end of load shedding in South Africa.
Ramaphosa who made the surprise announcement on Thursday, June 10, stated that resolving the energy supply shortfall and reducing the risk of load shedding is the most important objective in reviving the economy.
“Resolving the energy supply shortfall and reducing the risk of load shedding is our single most important objective in reviving economic growth.”
Announcement by President @CyrilRamaphosa on amendment to schedule two of the Electricity Regulation Act. https://t.co/cXMYoKw8MB pic.twitter.com/Mk4G0yvw5o
— Presidency | South Africa ?? (@PresidencyZA) June 10, 2021
In a statement by Ramaphosa, he confirmed that the government has identified the achievement of energy security as one of the priority interventions in the country’s Economic Reconstruction and Recovery Plan.
“This intervention reflects our determination to take the necessary action to achieve energy security and reduce the impact of load shedding on businesses and households across the country,” he said.
“Our ability to address the energy crisis swiftly and comprehensively will determine the pace of our economic recovery. Resolving the energy supply shortfall and reducing the risk of load shedding is our single most important objective in reviving economic growth,” Ramaphosa said.
The president added that in the last weeks and months, they have made some important progress in addressing the energy crisis under the leadership of the Minister of Mineral Resources and Energy, Gwede Mantashe.
“This includes the announcement of 11 successful bidders for the Risk Mitigation Power Procurement Programme and the opening of Bid Window 5 of the renewable energy programme to procure 2 600 MW of new generation capacity from wind and solar PV project,” Ramaphosa said.
Meanwhile, Eskom is working hard to improve the performance of its existing fleet of power stations, reduce its debt burden and complete its restructuring process.
Economy crisis
Ramaphosa said the country is in the midst of the worst economic crisis, which has seen a dramatic increase in unemployment and hunger and a significant decline in economic growth.
“The economic impact of the coronavirus pandemic has been severe, not only for South Africa but for the global economy.
“In the GDP figures released by Statistics South Africa this week, in the encouraging signs of a revival in many sectors of our economy, and in rising business confidence, we are seeing the green shoots that emerge after a devastating fire,”
” As a country, however, our challenges predate the pandemic. We have experienced low economic growth and high levels of unemployment for many years, due to the structural constraints that hold our economy back,” Ramaphosa added.
READ ALSO:
Picture: Cape Town etc gallery