Question NW2861 to the Minister of Energy
23 October 2018 - NW2861
Gqada, Ms T to ask the Minister of Energy
(a)What amount is currently available in the Slate Levy Fund, (b) under which entity is the fund located, (c) where can one view the amount allocated to this fund on the national budget, (d) who manages this fund and (e) who has authorisation to utilise this fund?
Reply:
(a) The current cash balance in the Slate Levy Trust Fund Account is R 135,316,781.88. This amount is the latest available cash balance in the Slate Levy Trust Fund Account as at the week ending, 12 October 2018, excluding interest accumulated as this will only be credited to the Slate Levy Trust Fund Account by end of October 2018 after all reimbursements have been concluded.
(b) The fund is located under the Equalisation Fund administered by the Central Energy Fund (SOC) Ltd.
(c) The funds in the Slate Levy Trust Fund Account are not allocated for in the national budget. The income of the Slate Levy Trust Fund Account is derived from a Slate Levy implemented on petrol and diesel in line with the provisions of the Self-Adjusting Slate Levy Mechanism and the funds utilised to finance the cumulative under recovery of the refining industry when the Slate Account balance of the industry exceeds a cumulative under recovery of R250.0 million.
(d) The Slate Levy Trust Fund Account is administered by the Central Energy Fund (SOC) Ltd on behalf of the Department of Energy.
(e) The Minister of Energy.