Government will announce its strategy to turn around ailing Eskom after it has finalised a master plan to revive the economy, according to minister in the presidency Jackson Mthembu.
Cabinet members held a special meeting on Thursday to discuss an economic draft formulated by national treasury, Mthembu told reporters in Cape Town. They also discussed a blueprint, known as the Integrated Resources Plan, that maps out the nation’s energy mix for the next two decades, he said.
Eskom, which supplies about 95% of South Africa’s power, has been granted R128-billion in state bailouts over the next three years to remain solvent. The government has proposed splitting the utility into generation, transmission and distribution units and is evaluating a range of options to reduce the costs of the debt and improve its performance. — Reported by Paul Vecchiatto, (c) 2019 Bloomberg LP