Act No. 38 of 2024: Electricity Regulation Amendment Act, 2024.

This Act, consisting of 33 Sections, mainly amends the original Act of 2006 by (i) expanding the scope of the Act, which now applies to the generation, transmission, distribution, reticulation, system operation, trading, import, and export of electricity, and introducing exemptions for small-scale or backup generation facilities; (ii) introducing and updating definitions; (iii) expanding licensing categories to include market operator and system operator; (iv) introducing new rules for revocation, deregistration, and transitional licensing, as well as introducing registration requirements for certain non-licensed activities; (v) providing for the establishment, duties, powers, and functions of the Transmission System Operator SOC, and including transitional provisions that designate National Transmission Company South Africa SOC Ltd to act in this role for up to five years; (vi) providing for an Open Market Platform for trading, allowing for market transactions, physical bilateral transactions, and regulated transactions; (vii) setting a tariff and pricing system that considers cost recovery, incentives, security and diversity of supply, and renewable energy promotion; (viii) expanding the powers of the regulator concerning licenses, compliance, and the resolution of disputes; (ix) introducing new offenses and penalties.