Chief Executive Officers (CEOs) and senior executives from at least 70 companies met with Eskom in a session organised by Business Leadership South Africa (BLSA) and the Johannesburg Stock Exchange (JSE).
The meeting is a part of the state power company’s efforts to address its weak power generation problems.
During the discussion, Eskom CEO André de Ruyter laid out the current plans for ensuring that the grid has a sufficient supply of electricity.
The goal of the conversations, according to de Ruyter, “was to pinpoint projects where the parties might work together and sow the seeds of opportunity to harness private sector investment capacity and harvest the low hanging fruit in the electrical industry.”
In a recent statement, President Cyril Ramaphosa urged business leaders to support the electrical strategy of the power utility by “pursuing chances to make investments and realising savings advantages from the changes of the electricity industry.”
Leila Fourie, Group CEO of the JSE, emphasised the significance of private industry and the government cooperating to ensure that the electrical problem is addressed.
We took the opportunity today to discuss some of the suggested options for business-to-business partnerships in the production of power since we are at a crucial inflection moment as a nation.
The proposal put forth by President Ramaphosa practically invites financiers and businesspeople to offer solutions that may have numerous other indirect but advantageous effects for our nation, particularly in terms of generating employment.
To the advantage of all South Africans, we must cooperate in order to address the energy generation crisis, according to Fourie.
Eskom reports that throughout the discussion, four areas were highlighted where private businesses can have an effect, including:
Possibilities to invest in independent power producers (IPPs) and own-generation projects via land leasing and wheeling agreements
Coordinated energy efficiency initiatives should be used to promote the prudent use of electricity in order to protect the national grid.
Support security measures to safeguard the electrical infrastructure from theft and vandalism
Contribute to the creation and coordination of enabling policies that affect the economy, the environment, and the energy and industrial sectors.
Company CEOs expressed their appreciation for Eskom’s openness on the important issues during an active Question and Answer session.
They also provided useful solutions to free up generation capacity and pledged their support for the public utility’s plan in collaboration with the appropriate government role players.
A delivery framework will be presented to businesses through BLSA to ensure take-up of the agreed-upon initiatives.
According to Eskom, “the parties have committed to opening the conversations to stakeholders headquartered in both Cape Town and Durban, where some of the major electricity consumers and potential investors are based.