National Energy Act, 2008 (Act No. 34 of 2008)

Chapter 5 : Security of Supply

17. Acquisition and maintenance of national strategic energy feedstocks and carriers

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1)The Minister may, in a prescribed manner, for the purposes of ensuring security of supply, direct any state-owned entity to acquire, maintain, monitor and manage national strategic energy feedstocks and carriers.

 

2)The nominated state-owned entity must perform the functions contemplated in subsection (1) in accordance with the relevant published security of supply strategies or policies.

 

3)The strategies or policies contemplated in subsection (2) may contain but not be limited to—
a)the minimum level of energy carrier or energy feedstock for the production of an energy carrier;
b)the conditions under which—
i)the strategic energy feedstocks and carriers may be built; and
ii)withdrawals may be made from such strategic energy feedstocks and carriers;
c)cost and benefit analysis;
d)funding mechanism for such energy feedstock or carrier; and
e)obligations to be imposed, on producers of energy feedstocks, to supply to the nominated state-owned entity the requisite energy feedstock, in a manner prescribed by regulation.

 

4)Before finalising the strategy or policy, the Minister must—
a)invite public comments on such strategy or policy; and
b)duly consider such comments.