The finance minister’s R59bn bailout of Eskom is a positive step — on condition that the unbundling model addresses the systemic and systematic challenges Eskom is confronted with and is driven by a competent leadership.

By systemic challenges I mean those that are located within Eskom. Systematic challenges are those that are outside and are structural and market related. It is clear even to a layperson that R59bn is not enough to deal with Eskom’s debt-servicing costs, undertake completion of the investment programmes, deal with the escalating costs of coal above the price sanctioned by the National Energy Regulator of SA and plug the gaps arising from corruption...

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