Fixing loss-making power utility Eskom Holdings is complex and it will take time for the government and the company to agree to a plan, according to Moody’s Investors Service. The energy firm, which supplies about 95% of the country’s power, has R450-billion of debt and is surviving on state bailouts after massive cost overruns at two partially completed coal-fired power plants. While the government has proposed splitting it into three units and a policy paper by the National Treasury proposes selling coal-fired plants, no strategy to stabilize its finances has been published yet.
