President Cyril Ramaphosa has signed the Electricity Regulation Amendment Bill into law.

Presidency spokesperson Vincent Magwenya says the amendments are in line with the broader reforms guided by government’s Energy Action Plan and the Eskom roadmap. This will aim to modernise and transform South Africa’s electricity system to end load shedding and ensure long-term energy security.

The Act will also broaden the competition amongst energy generators. Magwenya adds that in addition, it requires the development of a Market Code that will establish rules to govern the future competitive market and outline the process through which the code will be approved. 

Meanwhile, the EFF has labelled President Ramaphosa’s decision to sign the Electricity Regulation Amendment Act as a blatant attempt to privatise South Africa’s electricity generation – a move the party believes will only deepen the suffering of citizens.

The EFF added that by president assenting the Bill, he is further selling out the future of the country.