NERSA
The National Energy Regulator of South Africa (NERSA) has announced its approval of Sasol Gas (Pty) Ltd.’s application to set the maximum gas prices for the forthcoming financial year running from 1 July 2024 to 30 June 2025. This decision, as outlined by the regulator, aims at bolstering the objectives embedded within the Gas Act, thereby supporting the broader energy policy imperatives of South Africa.
In a statement released on Friday, NERSA elaborated that Sasol Gas had pursued the maximum price application grounded on the ‘cost-plus’ methodology articulated in the 2023 pricing framework. This approach ensures that the prices derive from the costs incurred, plus a reasonable profit margin. With this approval, the effective maximum gas prices are scheduled to commence on the 1st of June 2024 and will remain in force until superseded by subsequent price cap determinations by NERSA.
The specifics of the approved maximum price structure are as follows:
- For the initial quarter starting from 1 July 2024 to 30 September 2024, the maximum price for end-users is pegged at R84/GJ per annum.
- For the same quarter, Traders and Resellers have been allocated a maximum price at R79.80/GJ per annum with an additional directive that mandates a minimum of 5% discount off the stipulated maximum gas energy price.
- Additionally, a system for quarterly adjustments of the maximum price has been put in place, with a three-month lag period factored in for implementation purview till the end of June 2025.
NERSA has clarified that the stipulated maximum price is exclusive of Value-Added Tax (VAT). The decision, according to the regulator, is the outcome of a comprehensive review process that considered the legislative provisions of the Gas Act of 2001 along with accompanying regulations. The overarching affirmation from NERSA is that the approved maximum price levels strike a balance, being both fair and reasonable to all stakeholders involved.
For those seeking more intricate details regarding this decision, NERSA has made available the comprehensive decision document on its official website at www.nersa.org.za.
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