Nersa approves licences for National Transmission Company

JOHANNESBURG - The National Energy Regulator of South Africa has approved the three licenses needed for Eskom's Transmission company to operate independently from the embattled power utility.

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The new company, The National Transmission Company of South Africa, has now received its operating, trading and import and export licenses from the energy regulator.

This means it can attract investment to upgrade the national grid.

This, as its good credit record, has now been separated from Eskom, which is technically insolvent.

The public enterprises minister will now have to appoint a board of directors and ensure Eskom's lenders or bondholders are in agreement with the separation.