21 November 2008 – South Africa’s cabinet has approved the electricity pricing policy, government spokesman Themba Maseko announced on Thursday. Briefing the media following Cabinet’s regular Wednesday meeting, he said the policy objectives included setting a clear framework for determining electricity prices and ensuring cost-reflective tariffs while protecting the poor.
Other objectives were setting an appropriate balance between meeting social equity and economic growth, creating certainty and predictability, and ensuring long-term sustainability of the electricity industry. The adoption of the policy followed extensive consultation with all parties concerned, including a discussion at the National Economic Development and Labour Council (Nedlac) and at the energy summit held on May 14 this year.
The policy would now be submitted to the National Energy Regulator of SA (Nersa) for consideration, he said.