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NECCOM Plans Emergency Legislation To Increase Power Capacity

SOUTH AFRICA
  • South Africa's energy crisis takes focus after Eskom pushed back a planned media briefing due to "emergency engagements" with President Cyril Ramaphosa. The National Energy Crisis Committee of Ministers (NECCOM) assessed that there is no quick solution to the deepening energy crisis but resolved to table emergency legislation to get new power projects on the grid. Meanwhile, Finance Minister Enoch Godongwana told Reuters on the sidelines of the World Economic Forum that the government has a plan to end load-shedding within 12-18 months and Stage 6 load-shedding should no longer be needed within 6 months. The power utility de-escalated outages yesterday and is now alternating between Stage 4 and Stage 5.
  • Opposition parties and labour unions are threatening to file lawsuits against the government over prolonged power outages. Bloomberg cited a so-called demand letter, in which Eskom CEO and the Public Enterprises Minister are asked to end the blackouts or present a timetable for doing so or face legal action.
  • Data on South Africa's November mining production will hit the wires later today.

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