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Analysing the economic case for gas in South Africa’s power sector (2022)
Meridian undertook a detailed analysis of the role for gas-powered generation in the South African power system. This study built on Meridian's own power system analysis conducted with the Council of Scientific and Industrial Research (CSIR) as well as interpretation...
Exploring critical leverage points to unlock economy-wide decarbonisation pathways in South Africa (2021 – 2023)
This project situated the wealth of decarbonisation analysis and modelling exercises undertaken in South Africa within a multi-disciplinary and social systems perspective, to tease out and communicate the critical milestones and decision points of positive, credible...
Assessing green hydrogen value chain opportunities in South Africa (2021 – 2022)
Meridian undertook a study on the green hydrogen space in South Africa from an analytical and advisory perspective. The team was appointed alongside the CSIR to provide advisory support to KfW to assess the status of South Africa's green hydrogen market and identify...
Eskom Debt Advisory Group (2021)
Building on two years of work conceiving and incubating a climate finance intervention to support South Africa's just energy transition with a particular focus on addressing Eskom's financial crisis, Meridian continued to articulate and elaborate both the problem...
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Analysing the economic case for gas in South Africa’s power sector (2022)
Meridian undertook a detailed analysis of the role for gas-powered generation in the South African power system. This study built on Meridian's own power system analysis conducted with the Council of Scientific and Industrial Research (CSIR) as well as interpretation...
Exploring critical leverage points to unlock economy-wide decarbonisation pathways in South Africa (2021 – 2023)
This project situated the wealth of decarbonisation analysis and modelling exercises undertaken in South Africa within a multi-disciplinary and social systems perspective, to tease out and communicate the critical milestones and decision points of positive, credible...
Assessing green hydrogen value chain opportunities in South Africa (2021 – 2022)
Meridian undertook a study on the green hydrogen space in South Africa from an analytical and advisory perspective. The team was appointed alongside the CSIR to provide advisory support to KfW to assess the status of South Africa's green hydrogen market and identify...
Eskom Debt Advisory Group (2021)
Building on two years of work conceiving and incubating a climate finance intervention to support South Africa's just energy transition with a particular focus on addressing Eskom's financial crisis, Meridian continued to articulate and elaborate both the problem...
Analysing the economic case for gas in South Africa’s power sector (2022)
Meridian undertook a detailed analysis of the role for gas-powered generation in the South African power system. This study built on Meridian's own power system analysis conducted with the Council of Scientific and Industrial Research (CSIR) as well as interpretation...
Exploring critical leverage points to unlock economy-wide decarbonisation pathways in South Africa (2021 – 2023)
This project situated the wealth of decarbonisation analysis and modelling exercises undertaken in South Africa within a multi-disciplinary and social systems perspective, to tease out and communicate the critical milestones and decision points of positive, credible...
Assessing green hydrogen value chain opportunities in South Africa (2021 – 2022)
Meridian undertook a study on the green hydrogen space in South Africa from an analytical and advisory perspective. The team was appointed alongside the CSIR to provide advisory support to KfW to assess the status of South Africa's green hydrogen market and identify...
Eskom Debt Advisory Group (2021)
Building on two years of work conceiving and incubating a climate finance intervention to support South Africa's just energy transition with a particular focus on addressing Eskom's financial crisis, Meridian continued to articulate and elaborate both the problem...
Exploring a net zero emissions pathway for the South African power sector (2021 – present)
Funded by Agora Energiewende, Meridian is undertaking a power system modelling project in collaboration with the CSIR, which aims to provide an evidence base including quantitative investment costs and short-to-medium term critical interventions for South Africa's...
Exploring the cost of increased mitigation ambition in the South African power sector
Funded by Agora Energiewende, Meridian undertook a power system modelling project in collaboration with the CSIR, to explore the cost of additional mitigation in the South African power sector. Linked to this project, Meridian investigated the practical barriers to...
South African power sector market and regulatory reform (2019 – 2023)
Meridian's ongoing stream of work in this area involves the provision of advisory inputs and analysis into the policy and regulatory decision-making arena around the need for power sector regulatory reform and market development. Foci of this project include the need...
Analysing and incubating climate finance opportunities to support South African power sector reform (2019 – present)
Meridian continues to provide thought leadership in the climate and transition finance space, both domestically and internationally. A key focus area of this project is to elaborate how concessional climate and transition finance can be used most effectively in South...
The South African Energy Transition
The overall aim of the project is to undertake analysis and engage in stakeholder and media engagements to contribute to the public discourse on the energy transition in South Africa. This will further support policy and regulatory decisions that accelerate this...
Independent financial analysis of Eskom and the options for its reform
The project aims to develop analytical capacity to investigate the medium to longer term implications of changes to the underlying sector fundamentals and the threats to Eskom's business model. It also aims to identify gaps in the public discourse relating to the...
Expert economist in litigation: large industrial electricity users vs Madibeng Municipality
Grové Steyn was appointed as an expert witness by the complainants. Meridian prepared a number of expert reports, filed as part of the litigation, that analyse the Madibeng industrial electricity tariffs and the appropriate method for tariff regulation by NERSA....
Tariff Estimate for a petroleum loading facility
Our client was contemplating building their own crude oil loading facility, due to capacity and logistical constraints on the existing facility. They required an understanding of the tariff that NERSA would be likely to approve for use of the facility, if they built it.
Prepare submission to NERSA tariff hearing
Our client is a shareholder in the ROMPCO pipeline that brings natural gas from Mozambique to South Africa. Our client required [ ]
Expert Economist in arbitration case on gas pricing
Under instruction from our client's attorneys we investigated the pricing mechanism utilised by the gas supplier for the claim period and assessed whether it complied with the provisions of the regulatory framework during this period. We further quantified the extent...
Preparation of a NERSA application for Loading and Storage tariffs.
Meridian has been appointed to prepare the tariff application on behalf of the client. The work entails: developing a detailed tariff model which considers the implications of different tariff methodologies, and enables detailed scenario and stochastic analysis to be...
Operating licence application
Meridian was appointed to compile and submit the operating licence application on behalf of OTMS.
Estimation of SFF tariffs
Meridian was requested to calculate an estimate of the tariff that NERSA can be expected to approve for SFF (for charging to third parties) in accordance with NERSA's existing, and proposed new tariff methodologies.
Response to NERSA tariff methodology for petroleum loading and pipelines
Meridian was requested to conduct a comprehensive analysis of the implications of the new methodology, and to prepare a submission to NERSA on behalf of the client. We developed a financial model to compare the impact of the three possible tariff methodologies being...
Optimum Coal Mine Business Rescue – Coal market analysis
Meridian investigated the strategic position of the mine's shareholders as background for Eskom's negotiating position.
Optimum Coal Mine Business Rescue – Financial model
Meridian was tasked with developing a financial model of the mine, in conjunction with a mining engineering consultant. The aim of the model was to calculate the price for the Eskom coal that would enable the ongoing viability of the mine under different...
Optimum Coal Mine Business Rescue – Market analysis
Meridian was appointed to undertake a study of the international coal market. The study included an assessment of current and future export prices.
Training Workshop – Regulatory environment for the Gas sector
We provided a comprehensive training session covering the legal framework. including the Gas Act, the Gas Regulations and the regulatory (NERSA) guidelines and methodologies. We demonstrated the various methods for calculating tariffs and explained their...
Pricing Mechanism redesign to achieve Regulatory Compliance and commercial aims
We created a pricing mechanism using a number of objective, measurable features related to customers' consumption profiles which allowed significant variation in pricing. This mechanism created incentives for customers to improve their efficiency by rewarding...
Tariff calculation and regulatory approval for gas pipeline infrastructure II
We built a complex levelised cost model that could calculate tariffs for multiple infrastructure items delivering multiple capacity increases over arbitrary timeframes. We used this model to assist the client with their tariff application strategy and to calculate the...
Systems Implementation to support migration to a regulatory compliant pricing mechanism
We created all customer engagement tools to facilitate explanation of the new mechanism to customers. We additionally created modelling tools for long-term budgeting and strategic planning purposes. We wrote the software required to convert hourly consumption logger...
Comment on NERSA’s document related to excessive pricing in the piped gas industry
Meridian collaborated with the client's legal advisors to prepare a detailed response to the NERSA consultation document. The submssion questioned the basic premise of the approach NERSA proposed to adopt and suggested an alternative that would be compliant with the...
Maximum price application to the Energy regulator for a piped gas trader
We collaborated with the client in preparing the application. When NERSA questioned the use of an intangible asset in the calculation of the tariff we provided further specialist advisory services to support the basis of the tariff application.
Regulatory requirements for a gas to power project
Meridian conducted a review of the regulatory regime that applies to the different aspects of the piped gas value chain (including production, transmission, compression, storage, re-gassification, distribution, trading, etc.) and advised the client accordingly.
Strategies to avoid loadshedding in Cape Town
In this high-level study, we analysed the nature of the City's existing network and generation infrastructure and considered the demand-side data that could be obtained from the City. We then evaluated the practical and economic potential for utilising the City's pump...
Modelling capability to support price negotiations for a gas to power project
We built a financial model of the savings that would be realised by the power utility under various possible operational modes, quantities of gas sold and instantaneous demand requirements. We integrated this model with the clients own financial model to ensure that...
Revising the Petroleum Pipelines Regulations
Meridian was appointed to review the proposed changes and to prepare comments on behalf of the client with the aim of ensuring that the client's preferred commercial pricing strategy would be achievable under the new regulations. We also represented the client at a...
Energy Security Workshop
Meridian was appointed to assist with facilitating a multi-day high-level strategic planning workshop convened by the Premier's Office as part of their 'Game Changers' programme.
Tariff calculation and regulatory approval for gas pipeline infrastructure I
After a thorough analysis of the client's business strategy, we constructed both a levelised cost tariff model and a rate of return tariff model. Based on the client's business requirements we advised the implementation of a levelised cost tariff indexed to inflation....
Economists report in support of a legal dispute heard by the Ports Regulator
Our role was to prepare a specialist economist report in response to aspects of the applicant's founding affidavit and in support of the client's case at the Ports Regulator.
Gas Supply Agreement negotiation support
We provided analytical, and strategic support in a number of Gas Supply Agreement negotiations between our client (a piped-gas trader) and their customers. We assisted by calculating the possible profit impact of offering customised escalation adjustment mechanisms...
Expert report for Competition Commission complaint
Meridian was appointed as the economics advisors as part of a professional team that prepared an official complaint with the South African Competition Commission. Meridian conducted a detailed competition assessment and prepared an economists expert report that formed...
Quantifying financial risks associated with a CNG business
We created a stochastic scenario generator to integrate with the existing financial model. By doing this we retained all the complexity already built into the existing model by the client but provided insights from the same model that could not be gained by...
The Optimum Mine Hardship Claim
We collaborated with Econex in producing an expert report for Eskom on the hardship claim by Optimum. In addition to critically reviewing the details provided in the Optimum claim, we developed a range of strategic arguments that Eskom could employ to defend its case.
Coal Market Study Strategies
We collaborated with Econex and Eskom to undertake a scenario based study of the price and other implications of pursuing different coal sourcing strategies. The quantitative analysis was primarily based on Eskom's coal supply optimisation model.
Petroleum importing and storage terminal licence
Our role included assisting with detailed strategy sessions; preparations of the team's participation at the NERSA public hearing; and presenting at the same hearing as the team's economic expert. The licence applications were successful.
Tariff Calculation and Regulatory Application for a petroleum product import terminal
After lengthy engagement with the regulator regarding methodology we calculated an appropriate tariff path that would meet both the client's needs and the regulator's requirements. This required the calculation of a levelised cost tariff that increases by inflation...
Competition Commission LPG Market Inquiry Submission
Meridian was appointed to conduct an LPG market investigation and prepare an economists report on behalf of Borbet. Our report covered the regulatory and competition economics issues relevant to the inquiry and identified areas of concern to Borbet that it wanted the...
Coal Market Study
We collaborated with Econex and Eskom by leading a project to produce a large study of the coal market in South Africa. The investigation focussed on outlining the key characteristics of the South African coal market (including the export component); on reviewing...
Persuading the Energy Regulator to allow alternate tariff calculation methodologies
Meridian was appointed to prepare the Sunrise tariff application. However, given that Sunrise required a levelised cost tariff (an inflation indexed tariff) we first had to engage NERSA around the methodology that Sunrise wished to use for the application. After...
Expert economist in litigation: large industrial electricity users vs NERSA and NMB Municipality
Grové Steyn was appointed as an expert witness by the complainants. Meridian prepared a number of expert reports, filed as part of the litigation, that analyse the NMBM industrial electricity tariffs and the appropriate method for tariff regulation by NERSA. During...
Assessment of the NERSA MYPD3 tariff decision
Grové was appointed to assist the Eskom team with assessing the tariff decision and its impact on Eskom, and with preparing a strategy for responding thereto.
Sales price indexing vs cost price indexing – Hedging Analysis for a gas trading entity
We constructed a comprehensive paramaterised multi-period financial model of the client's profitability metrics under arbitrary assumptions around volume and macro-economic scenarios. We generated multiple stochastic macro-economic scenarios incorporating the client's...
Mobile termination rates
We constructed a financial model to evaluate the financial value of different regulated termination rate scenarios on the client's business.
The case for the Mozambican North to South Gas Pipeline (Gasnosu) Project
Meridian collaborated with Econex to investigate the costs and benefits that the Gasnosu pipeline (which included gas-to-power projects), would hold for the economies of South Africa and Mozambique, and the southern African region as a whole.
Submission on revised Gas bill
Meridian's role was to prepare comments on the proposed changes as specialist regulatory economists. We collaborated with the client's legal advisors in compiling a comprehensive response to the proposed changes to the Gas Act.
Financial and Economic analysis in the Sasol Chemicals Industry excessive pricing case.
The Competition Commission was preparing its case documents for its referral of Sasol Chemicals Industries (SCI) to the Competition Tribunal for alleged excessive pricing. The Commission needed assistance with responding to the technical financial aspects of SCI...
Intervention in the Competition Tribunal hearing on the Glencore – Xtrata merger
Grové collaborated with Econex in preparing the report. The report considered the likely market power of the merged entity, Eskom's countervailing buyer power and possible anti-competitive effects of the merger. It also analysed the potential effects that the proposed...
Member of the Ports Regulatory of South Africa
Grové served as a member of the Board of the Regulator and also chaired the Regulatory Committee that was responsible for all matters related to the TNPA's tariffs and tariff setting methodology. His responsibilities included chairing public hearings and oversight of...
Review of the NERSA incentive based regulation rules
Grové was appointed as a specialist regulatory advisor to Eskom in order to assist with preparing appropriate responses to NERSA and advise on regulatory strategy.
Renewable Energy Debt Fund
Grové was appointed to, and elected as chairperson of, the external Technical Advisory Committee, established by Mergence with a view of obtaining an external review of the portfolio of projects in its Renewable Energy Debt Fund.
Impact of economic regulation on management and performance of SOEs
Meridian was appointed to produce a report on the impact of economic regulation on the management and performance of state-owned enterprises (SOEs). The report set out to identify the key challenges related to the economic regulation of SOEs in the energy, transport...
Expert witness in arbitration case on the pricing of demand response
Grové was appointed as an sector expert to the EB Steam team. He advised on a wide range of power sector economic and regulatory issues that arose during the arbitration and was also responsible for drafting expert reports that would be filed as part of the process.
Critical review of the proposed Eskom MYPD2 tariff application
We provided a comprehensive review of the Eskom MYPD2 tariff application and assisted the client with executive-level engagements with Eskom in order to obtain more details on aspects of the application. We prepared the final regulatory submission on behalf of the...
Regulatory engagement, strategy and capacity development
Grové was appointed by the Transnet CEO, Maria Ramos, to assist Transnet with engaging with the newly established regulators, guide the Divisional and Corporate Executive Teams on the regulatory engagement processes, prepare and manage tariff applications, and assist...
Task team to assess the fiscal regime applicable to windfall profits in the liquid fuels sector
In the February 2006 Budget, Minister of Finance Trevor Manuel announced the appointment of a task team to investigate whether windfall profits were being generated by the liquid fuels industry, in particular the synthetic fuels industry, and whether a windfall tax...
Comment on the draft NERSA MYPD tariff methodology
Grové was appointed as an advisor to the National Electricity Regulator to assist with their preparations for implementing a multi-year pricing regime for Eskom (the national South African power utility).
Review of Eskom’s 2005 tariff application
Grové was approached by the NER to put together a team of advisors to assist the NER to undertake the review of the Eskom tariff application. The role included project managing the entire review process, including the meetings with all stakeholders, and preparing the...
Incentive-based regulation for electricity transmission and distribution
Grové was appointed to lead a consortium of advisors investigating the implications of such a regime by means of financial modelling.
Review of Eskom’s 2004 tariff application
Grové was approached by the NER to put together a team of advisors to assist in a review of the Eskom tariff application. The role included project managing the entire review process, including the meetings with all stakeholders, and presenting the final...
The relationship between electricity sector regulation, electricity prices and inflation
Grové was appointed to undertake a study and prepare an economic report on the relationship between electricity prices and general price inflation in the economy.
Review of electricity pricing in South Africa – price setting inflation impact
Grové was commissioned to produce a review of electricity pricing in South Africa and to investigate the impact that electricity tariffs have on consumer price inflation.
Review of the SA electricity regulation regime in South Africa
Grové was commissioned to produce a report on the development of the electricity regulation regime in South Africa.