The National Energy Regulator of South Africa (Nersa) says chairperson Thembani Bukula is not conflicted, as he had resigned from his position as nonexecutive director of JSE-listed infrastructure special purpose acquisition company Mahube Infrastructure upon his appointment as Nersa chairperson.
“The comments made on social media platforms alleging that Bukula has a conflict of interest are incorrect and misleading,” the regulator states.
"In accordance with the law, there is no pecuniary interest that Bukula stands to gain pursuant to all decisions taken by Nersa. The Nersa board consists of nine members that make decisions on applications from Nersa licensees, including Eskom.
"The decisions of Nersa are solely based on the thorough analysis of the application, as well as facts and evidence presented to it," the organisation points out.
The law requires that, upon appointment, every part-time regulator member, or board member, must disclose to the Mineral Resources and Energy Minister his or her pecuniary interest in any company, firm or association engaged in the electricity, piped-gas and petroleum pipelines industries.
Bukula, as a part-time regulator member, has duly complied in this regard and declared his interests before taking up his position, Nersa says.