Media Statement: Committee on Mineral Resources Briefed on State of Refineries in South Africa
Parliament, Wednesday, 14 April 2021 - The Portfolio Committee on Mineral Resources and Energy received briefings today virtually from the Department of Mineral Resources and Energy (DMRE) on the Basic Fuel Price (BFP) and the State of South African petroleum refineries.
The briefing on the BFP was needed in order to understand and explore mitigating alternatives to address the increase in fuel prices in South Africa. The DMRE explained the method used to determine fuel prices, whereas the Automobile Association of South Africa (AASA) shared its views and mitigating strategies relating to the BFP.
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South Africa is committed to a just energy transition in terms of Chapter 5 of the National Development Plan, although the country is only at the very start of that journey. How is this transition conceptualised? It focuses on how to address the results of a shift in energy generation away from coal: how do we ameliorate the impact of job losses in the coal value chain and the impact on local economies dominated by coal?
These are important issues that need sustainable solutions. However, there are significant linkages between energy, poverty and inequality occurring in the
distribution part of the energy system that have largely been overlooked. This reflects a broader emphasis on the restructuring of energy generation – rather than distribution – in discussions about how to reform our energy system.
Eskom, South Africa’s state-owned power utility, has a litany of financial and operational problems. In 2017 the Goldman Sachs Group declared it the biggest risk to the South African economy. Several cabinet members have said so too. President Cyril Ramaphosa declared that Eskom is “too big to fail”.
The first huge problem is debt of R488 billion (about US$32 billion) which Eskom cannot service, of which, R350 billion is guaranteed by government. Sales volumes declined by 4.7% between 2009 and 2019, based on data in Eskom Annual Integrated Reports. Operational costs also increased by 30% in five years.
The energy availability factor – what’s available from power stations – has declined by about 20% over the past 20 years as Eskom struggles to repair and maintain its previously neglected and ageing fleet of power stations. This has resulted in increasing load-shedding, which is damaging investor sentiment.
South Africa s Energy Policies - Are Changes Finally Coming? allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.