Good morning.
President Cyril Ramaphosa faces another crucial moment in his presidency today as parliamentarians vote on whether to adopt the Section 89 report recommending the president face an impeachment hearing based on the Phala Phala farm robbery.
Nersa will decide this week whether to grant Eskom its 32% electricity tariff hike.
Speaker declines requests to hold secret ballot vote
On Monday night, National Assembly speaker Nosiviwe Mapisa-Nqakula said she had declined requests “to reconsider her decision to not allow the secret ballot to be used as a voting procedure”.
Opposition parties had written to the speaker asking for a secret ballot while the ANC wanted her to hold firm. Parliament’s spokesperson Moloto Mothapo said the speaker has a right to exercise their discretion when determining what voting method to use when none is prescribed by the National Assembly rules.
Read more here. (News24)
Decision on massive Eskom tariff hike expected this week
Energy regulator Nersa will decide on Wednesday whether Eskom is entitled to charge up to 32% for electricity.
The decision was initially planned for November before it was pushed back to the end of the month and then further delayed until December. At the time a member of Nersa’s electricity subcommittee, Nhlanhla Gumede, said “gremlins” had crept into the calculations and the correct determination for an increase could not be reached.
Read more here. (BusinessTech)
Huge hike of more than 20% unlikely, says analyst
Independent energy analyst Clyde Mallinson says he does not believe Nersa will approve a tariff hike in excess of 20% but argues whatever increase is agreed upon will determine how much money Eskom will need in the form of a government bailout.
Civil society groups and municipalities that participated in presentations before Nersa have argued that any tariff increase should not be above inflation, which is currently at 7.6%. Read more here.
(Business Day, for subscribers)
Here’s what else you need to know today:
EXCLUSIVE | Phala Phala manager who stashed dollars now works for lodge partly owned by Fraser’s niece – News24 (for subscribers)
Ramaphosa has made no case for dismissing Section 89 report, says ATM leader in ConCourt affidavit – Daily Maverick
Namibian theft suspect questioned by Hawks, moved to another prison – Daily Maverick
Power struggle continues in Joburg as residents still without electricity – The Citizen
Urgent steps were taken in ‘a tumultuous’ 2022 to address SA’s electricity crisis – Ramaphosa – News24
Soweto still waiting for Ramaphosa to keep promises – The Citizen
Sam Bankman-Fried arrested in Bahamas as US files FTX charges – DM/Bloomberg
Fresh controversy rocks jittery cryptocurrency market – Ventureburn
FTX’s collapse prompted the largest-ever outflow of bitcoin from crypto exchanges – Business Insider
Biden to announce support for African Union joining G20 – Reuters
