South African President Cyril Ramaphosa has signed a law that makes significant changes to the country’s energy industry. The law is designed to create a competitive electricity market, attract investment in new power plants, ensure energy security, and reduce electricity prices. This is reported by
BussinessTech.

The law makes several key changes to South Africa’s energy system:

free Market: companies are now allowed to buy and sell electricity freely, creating competition and lowering prices.

independent management: a separate organisation is created to manage the country’s entire power system to ensure it is efficient and safe.

environmental responsibility: the law encourages the development of renewable energy sources to reduce emissions and make the energy sector more environmentally friendly.

These changes aim to modernise and transform South Africa’s energy system to address power shortages and ensure long-term energy security.

The new law is expected to create new jobs in the energy sector and stimulate the development of new technologies.

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iStock