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1、Liberalised Electricity Markets:Lessons from global markets as South Africa transitions to a liberalised electricity system GuidancePublished:December 2025Report leads:British International InvestmentBoston Consulting Group2LIBERALISED ELECTRICITY MARKETS:LESSONS FROM GLOBAL MARKETS AS SOUTH AFRICA

2、TRANSITIONS TO A LIBERALISED ELECTRICITY SYSTEMDisclaimer This document should be taken only as a source of information,guidance and analysis,to be applied by each institution at its own discretion and in accordance with its own policies and practices.The information in this document does not consti

3、tute legal,financial,tax or other professional advice and should not be relied upon as a substitute for specific advice.British International Investment plc(BII)and Boston Consulting Group(BCG)accept no responsibility for any errors,omissions or misleading statements in this document,or for any loss

4、,cost,damage or liability that may arise,directly or indirectly,from its use or reliance.BII,BCG,and their collaborating partners do not owe or assume any duty of care to any person in connection with this document.Any references or links to external websites are provided for convenience only.BII,BC

5、G and their partners are not responsible for the content of any external sources.AuthorsTabish Shariff(BII),Rinchin Gaekwad(BII),Kesh Mudaly(BCG)and Tariq Allie-Ebrahim(BCG).Acknowledgements This document is a joint BII and BCG initiative which was made possible thanks to funding from BIIs technical

6、 assistance facility,BII Plus.The authors thank the following for their contributions:Iain Macaulay(BII),Justin Pavry(BII),Simon Meier(BII),David Ngari(BCG),Leysha Jhetam(BCG)and Anshul Pattundeen(BCG).A special thank you to Etana Energy for their collaboration and support.3LIBERALISED ELECTRICITY M