Thanks Gaborone Batswana for having us, we had a time. The devil tried to schedule your downfall, God declined the appointment! You’re coming out on top!
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TIMELINE- THE RISE OF IPPs in SOUTH AFRICA.
▫️2008 Brian Dames became the chief officer of Eskom Generation.
▫️2009 Patrice Motsepe says Eskom electricity is too cheap and that was preventing independent power producers.
▫️2010 Brain Dames became CEO of Eskom.
▫️ 2011 first bid window for solar and wind projects to be funded by eskom.
▫️2012 Globeleq established HQ in Cape Town. Globeleq is the leading IPP company in Africa and is owned by the UK government.
▫️2012 Cyril Ramaphosa returns to frontline politics and is elected deputy president of the ANC.
▫️2014: 121 hours of load shedding recorded.
▫️ March 2014 Brian Dames resigns from Eskom
▫️Sept 2014 Brian Dames joins African Rainbow Minerals and Energy owned by Patrice Motsepe.
▫️ Dec 2014 Cyril Ramaphosa assigned to oversee the turnaround of Eskom in what was labelled the “war room.”
▫️2015 : 858 hours of load shedding
▫️ 2017: Cyril Ramaphosa wins ANC conference.
▫️ 2018: Cyril Ramaphosa becomes president of South Africa.
🔑 Pravin Gordhan appointed minister of Public Enterprises- overseeing Eskom.
▫️2018: 127 hours of load shedding
▫️2019: 528 hours of load shedding
▫️2020: 859 hours of load shedding
▫️2021: 1099 hours of load shedding
▫️2021: IPP bid window 5
▫️ 2021 Ikamva Consortium - secured 12 of the 25 projects on offer.
🔑 info : The Ikamva Consortium includes Oslo-listed Aker Horizon's Mainstream, South African billionaire Patrice Motsepe's Africa Rainbow Energy & Power, local firm H1 Holdings and Globeleq, which the development finance institutions of Britain and Norway owns.
▫️2022 The National Energy Regulator of South Africa (Nersa) has awarded an electricity trading license to Remgro’s The Energy Exchange. Remgro is owned by Johann Rupert.
▫️2023: R41 billion spent by Eskom on IPPs which represents 27% of expenditure. Ipp’s only generated 8% of the power in 2023.
🔑 info: Between 1988 and 2007, electricity tariffs increased by 223%, whilst inflation over this period was 335%.
‼️From the 2008 there was a clear and sharp inflection point for electricity tariffs in South Africa. ‼️‼️‼️‼️
From 2008 to 2022, electricity tariffs increased by 653%, whilst inflation over this period was 129%. Thus, electricity tariffs increased four-fold (or quadrupled) in real money terms in 14 years.
“Connect the dots” - Pravin Gordhan