Pretoria - South Africa aims to complete the split of state utility Eskom in 2022 and open it to more competition under a long-awaited plan to overhaul the loss-making firm and the country's power sector, a government document showed on Tuesday.
President Cyril Ramaphosa said in a state of the nation address in February that the government planned to split Eskom into units for generation, transmission and distribution, but there has been little detail about the timeframe.
Tuesday's release of a government "special paper" on Eskom had been eagerly anticipated by investors and ratings agencies, which cite the financial and operational crisis at Eskom as one of the biggest risks to Africa's most industrialised economy.
Moody's is the last of the big three ratings agencies to have South Africa's debt in investment grade and is scheduled to review that rating on Friday, November 1.
The paper set out a vision for a restructured electricity supply industry where Eskom will relinquish its near-monopoly of the sector and compete with independent power producers (IPPs) to generate power at least cost.