South Africa Irks Creditors With Revised Eskom Breakup Plan

South Africa’s decision to modify a plan to break up its state-owned power utility into three separate entities is encountering opposition from creditors and foreign government funders.

The “revised unbundling strategy” approved by Electricity Minister Kgosientsho Ramokgopa will split Eskom Holdings SOC Ltd. into distribution, generation, renewable energy and transmission subsidiaries, but under a single holding company, according to a statement posted on the utility’s website this month.