Union NUM to Engage Govt on Potential Mine Reopening's; Nersa Eyes 7.47% July Tariff Increase

LOCAL NEWS (2/2)

• Union NUM says it will engage with the mining department to conduct an audit of mines under care and maintenance to see if closed operations can be reopened to boost jobs – BusinessDay
• Energy regulator Nersa proposes an average increase of 7.47% in municipal electricity tariffs from 1 July. The regulator currently faces two legal cases regarding its system of tariff setting, which it opposes.
  • In a recent meeting, an experienced member of Nersa conceded that their practice falls short in terms of the law. Nersa stated that it requires data from municipalities to create a fully-fledged methodology that will be ready by the end of April for public comment. - Moneyweb
• Report finds that rushing SA’s gas investment to find 9500MW could cost at least R184bn and lead to higher energy costs for consumers to add to the just transition challenges.
  • Researchers suggest SA hold off on gas until 2035 and prioritise investment in renewable energy and battery storage instead – Fin24
• World Bank set to visit SA this week to hold discussion with the Treasury. WB says it is working with Eskom & Transnet to support projects that can improve SA’s investment potential via better electricity supply and logistics. Comes after SA secured a $740m WB loan in Jan at an interest rate of less than 2% - Fin24