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Cyril Ramaphosa Makes announcement that could destroy Eskom.

Our president Cyril Ramaphosa have Just made a major move that is guaranteed to change things in South Africa. This move will not only affect business but all Citizens, if it's used in the right way. This also has the potential to end Eskoms monopoly on the electricity supply in South Africa. Here are all the details and all the things that may happen. 

Big Announcement :

President Cyril Ramaphosa has made a major announcement regarding the generation of electricity by private businesses in South Africa. These electricity announcement says that business are now allowed to generate up to one hundred mega watts of power. Instead of the previous one mega watt of power they were able too. This means that businesses can now generate their own electricity and possibly operate without that cost. They could also use this power to change the lives of private citizens if they are allowed to. 

What it means for people :

If they are allowed too, businesses may be able to sell this electricity to people nearby. They would than become a private vendor for electricity. This will mean that these citizens are not subject to eskom or load shedding. They will have power provided by a private business and be subject to their private terms and conditions. However they will also be subject to the downfalls of private electricity generation. 

What this means for Eskom :

If businesses are allowed to sell electricity privately, eskom may lose its monopoly on the Electricity market. As they are the only provider at the moment, they can do what they choose to, However if new providers are allowed to exist. They would have to face the competition and charge cheaper rates and give better service.

What Now :

Hopefully this new announcement will open many more doors in private electricity South Africa, the way that electricity is generated and how citizens get that electricity. I believe that eskom will fight against this announcement and fight against public businesses selling electricity. However if they are allowed to continue, than things will surely change. What do you think of this, tell me in the comments and follow for more news as it happens. 

Source :

https://www.news24.com/amp/fin24/economy/eskom/major-breakthrough-for-private-power-providers-as-ramaphosa-makes-big-move-20210610

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Cyril Ramaphosa Eskom Eskoms

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