Trade winds to power up the economy
12 October 2021
As we all know, load shedding comes at a huge cost to businesses, many of whom are forced to divert finances from other necessities, such as hiring more staff, towards buying equipment that will keep the lights on and machines running. A recent study commissioned by Eskom found that a day of Stage 1 load shedding cost the economy R235,5 million. That is a loss that the South African economy simply cannot afford!
It has never been clearer that we need to remove municipalities from the clutches of this unreliable energy supplier.
With the amendments to the Electricity Regulation Act, which enables municipalities to procure electricity directly from independent private producers, these amendments have opened the door for well-run municipalities to work with the private sector to end load shedding by reducing our dependence on Eskom.
Yesterday, I visited the hub of green energy manufacturing, engaging with a sample of companies located within Cape Town who manufacture key components necessary to expand our capacity to harvest wind for energy generation purposes, could not have been more on point.