The economic growth of Africa’s most industrialized nation has been hampered for more than ten years by the difficulties of the public company Eskom to meet the demand for electricity.
But the breakdowns were particularly serious this year. A record amount of electricity is expected to be cut from the grid in 2022, sparking public anger and hampering businesses.
In a televised address to the nation, Mr Ramaphosa said that over the next 12 months Eskom would increase its maintenance budget to make its fleet more reliable.
It will seek to purchase excess power from existing independent power producers and neighboring countries in the Southern African Power Pool.
Mr Ramaphosa added that the National Treasury was working on a lasting solution to Eskom’s colossal debt burden and that the finance minister would make an announcement during the mid-term budget in October.
He said the size of a next round of renewable energy supply would be doubled to 5,200 megawatts and the requirement for a license for integrated generation projects would be removed altogether to spur private investment.
Despite measures to make the electricity supply sector more competitive, Eskom will remain its mainstay, Mr Ramaphosa continued.