Blackouts and Backsliding: Energy subsidies in South Africa 2023
Blackouts and Backsliding presents the latest energy subsidy data for South Africa. South Africa's fossil fuel subsidies tripled between FY 2018 and FY 2023, from ZAR 39 billion (USD 2.9 billion) in FY 2018 to ZAR 118 billion (USD 7.5 billion) in FY 2023. The largest share of fossil fuel subsidies in South Africa in FY 2023 went to oil and gas consumption, carbon tax exemptions, and the electricity sector.
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#Breaking | #SouthAfrica's fossil fuel subsidies hit a record ZAR 118bn in FY 2023. A new @IISD_Energy report finds that: Fossil fuel subsidies have tripled in 5 years. State support for #CleanEnergy remains minimal Learn more: https://www.iisd.org/story/south-african-energy-subsidies
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Despite rising energy subsidies, loadshedding in #SouthAfrica hit record highs in 2023, occurring 335 days of the year. How can South Africa improve its energy security and hit #CleanEnergy targets? A new @IISD_energy report outlines a way forward: https://www.iisd.org/story/south-african-energy-subsidies
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Oil & gas subsidies in #SouthAfrica reached ZAR 52bn in FY 2023 as the gov't looked to shield consumers during the #EnergyCrisis. IISD research finds shifting to renewables would support long term #EnergySecurity & affordability. Read the @IISD_Energy report: https://www.iisd.org/story/south-african-energy-subsidies
Are South Africa's energy subsidies aligned with its objectives for the energy sector and transition? Will subsidies help South Africa deal with its loadshedding and electricity sector crisis?
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