Mineral Resources and Energy Minister Gwede Mantashe says discussions are underway with industry players to find a way to reduce electricity prices.

He has again said the country’s electricity prices are extremely high.

Mantashe says the prices have gone up by over 500% over the last ten years.

The Minister was briefing parliament’s oversight portfolio committee on the Integrated Resources Plan.

The plan, which is the country’s blueprint on how to harness different sources of energy to augment the national grid, was approved by cabinet recently.

“If we succeed in that discussion with both window 1, 2, and 3 of renewables and coal producers to reduce the prices, then we can go to Eskom and Nersa and engage them on the possible of reducing the price of electricity… particularly terms of focusing on industrial consumers and mines which are intensive energy consumers.”


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