Cape Town –Minister of Energy Jeff Radebe has committed to ensuring policy certainty to support President Cyril Ramaphosa's investment drive.
Radebe was briefing the portfolio committee on energy on Tuesday. He spoke on several issues including nuclear energy, independent power producers and the Central Energy Fund (CEF) as well as the president’s plan to send out four investment envoys to secure investment from international markets.
“Our contribution as the DoE (Department of Energy) is to ensure that there is policy certainty in energy-related investment opportunities in our country.
“Therefore, during my term as the minister of energy, I intend to be decisive in key policy decisions to stimulate our economy.”
Radebe acknowledged that there are “hindrances” to policy implementation, but said he would do everything in his power to eliminate these obstacles to policy implementation, "from SOEs (state-owned enterprises) and elsewhere”.
During the budget vote next week, Radebe will provide more details on the department’s plan to create policy certainty, drive investment and job creation.
He added that he will ensure the department’s SOEs are capacitated to respond to current energy constraints and risks to energy security.
Radebe also said he was working with the CEF to ensure governance and leadership challenges are addressed to “restore public confidence”.
The matter on the sale of strategic fuel funds is currently at the courts, and Radebe implored that the legal process be concluded.
The CEF is seeking a declaratory order for the sale of strategic fuel reserves to be declared invalid.
As for the nuclear build programme, Radebe said the DoE was reviewing the issues raised in the Western Cape High Court in April 2017.
“The way forward on the nuclear build programme will be determined by the updated Intergrated Resource Plan (IRP) once it is promulgated,” said Radebe.
He said the IRP is expected to be concluded by mid-August 2018, and that a proper process of consultation with relevant stakeholders on the matter is being followed to ensure that all inputs are taken into account. This includes inputs from government, Nedlac, the public at large and Parliament.
Cabinet will then have to approve the IRP. Radebe said the issue of the cost of nuclear will only be determined once the IRP is finalised.
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