Finance Minister Tito Mboweni delivered the annual budget speech in parliament on Wednesday. Courtesy #DStv403
CAPE TOWN - Finance Minister Tito Mboweni says a stable electricity supply is government’s number one task.
Treasury has allocated R230-billion over 10-years to restructure the electricity sector.
Mboweni delivered the annual budget speech in Parliament on Wednesday.
With the economy forecast to grow by less than one-percent this year and 1.3-percent in 2021, Mboweni says sorting the country's power problems is a priority.
"Government will do 'whatever it takes' to ensure a stable electricity supply. As I said, it is our number one task. We have allocated R230-billion over ten years to achieve the restructuring of the electricity sector," Mboweni said.
"The current electricity shortfall will ease as Eskom finishes critical maintenance. Bid Window 4 of the renewable energy programme is being accelerated.
"The rapid decline in renewable energy prices will give new momentum to Bid Window 5. Determinations to implement the Integrated Resource Plan of 2019 are finalised and await the concurrence of the National Energy Regulator. It will shortly be possible for municipalities in financially good standing to purchase electricity from independent power producers."