The Department of Energy has noted that its daily snapshots are not predictive and do not encompass other possible modifications, such as slate levy adjustments or retail margin changes. The department determines these adjustments, which consider various factors, at the end of the month.
“The GFL goes to National Treasury, and the government is free to utilise this levy in any manner it deems fit. The RAF levy can only be utilised for road accident claims,” FNB said.The rand has been on a downward spiral of late following allegations by the US ambassador that South Africa supplied arms to Russia, adding pressure to the already buckled currency.
The Bureau for Economic Research reported that load shedding had been the consistent drag on the currency, with increased anxiety surrounding the possibility of higher stages of load shedding over the winter. Brent crude currently sits at $75.24 a barrel following a recent slide way below the $100 mark earlier this year as the energy crisis was in full swing and the Russian war in Ukraine crumpled supply.