Thesis (MBA)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: The energy sector of the South African economy is poised to change in
extraordinary ways. In just a few short years from now, the days will be gone
when generators are guaranteed of their income and where regional
distributors have the monopoly in the regions that they are servicing.
Other energy markets in the world, such as oil and gas, have been free of
regulation for many years. More recently, local policymakers have been
focussing on increasing competition in the electricity sector and in so doing,
liberate electric utilities from government's long established control. The shift
away from government regulation of energy will lead to something even more
important than placing downward pressure on the price of a MWh. It will
instigate the development of multiple trading centres and platforms that are
dedicated to competition in the free trade of electricity and related products.
With the deregulation of the electricity supply industry and the inevitable
introduction of competition, the real risks of energy trading will be faced by
generators and distributors alike.
This research investigates the changes that are set to occur within the next
few years, based on developments that have unfolded in countries where
electricity supply industries have been privatised and utilities and distributors
are managing their risks in this new competitive environment.
It explains how the South African Electricity Supply Industry may change with
respect to the develop of markets which provide risk cover to industry players,
the practices assumed by utilities in international electricity supply industries
to minimise their risk exposure, and how industry players can use derivative
instruments to manage their risks better. / AFRIKAANSE OPSOMMING: Die elektrisiteitsvoorsieningssektor is gereed om groot veranderings te maak.
Binne 'n paar jaar, sal ons die einde sien van die dae waar kragstasies
gewaarborg is van hulle inkomste en waar streeksvoorsieners die monopolie
het in die streke waarin hulle verskaf.
Ander energie markte in die wêreld, soos die van olie en natuurlike gas, is al
sonder regulering vir baie jare. Meer onlangs het beleidsrade hul tyd toegewy
aan die instelling van kompetisie in die elektrisiteitsvoorsieningssektor om
utiliteitsmaatskappye vry te maak van staatsbeheer. Hierdie beweging weg
van staatsbeheer sal lei na iets meer as net die afwaardse druk op die prys
van 'n MWh. Dit sal die begin merk van die ontwikkeling van veelvoudige
verhoë wat toegewyd is aan kompetisie in die vrye handel van elektrisiteit en
soortgelyke produkte.
Met die deregulering en die onvermydelike indiening van kompetisie, sal die
ware risikos van energie handel aanvaar word deur voortbrengers en
verskaffers van elektrisiteit.
Hierdie navorsing stel ondersoek in die veranderings wat van plan is om te
gebeur in die volgende paar jaar en is gebaseer op die ontwikkelinge wat in
lande afgespeel het waar elektrisiteitsvoorsieningsnywerhede geprivatiseer is
en waar voortbrengers en verskaffers van elektrisiteit hulle risikos bestuur in
hierdie nuwe mededingende sektor.
Dit verduidelik hoe die Suid-Afrikaanse elektrisiteitsvoorsieningsnywerheid
mag verander teen opsigte van die ontwikkeling van markte wat risiko
versekering aanbied vir utiliteitsmaatskappye, die praktyke wat deur hierdie
spelers toegepas word om hulle blootstelling aan risikos te verminder, en ook
hoe hulle afgeleide instrumente gebruik om hulle risikos beter te bestuur.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/53195 |
| Date | 12 1900 |
| Creators | Malgas, Isaac |
| Contributors | DuP Smith, J., Stellenbosch University. Faculty of Economic & Management Sciences .Graduate School of Business. |
| Publisher | Stellenbosch : Stellenbosch University |
| Source Sets | South African National ETD Portal |
| Language | en_ZA |
| Detected Language | Unknown |
| Type | Thesis |
| Format | 83 p. |
| Rights | Stellenbosch University |
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