"vertically integrated licensee"

means a person who holds one or more of the licences listed in section 4(a)(i), but excludes a person who only holds licences in terms of section 4(a)(i)(bb) and (cc); and

[Definition inserted by section 1(zB) of the Electricity Regulation Amendment Act, 2024, Notice No. 5139, GG51100, dated 20 August 2024 - effective 1 January 2025 per Proclamation Notice 236 of 18 December 2024 with exceptions]