JOHANNESBURG - The South African Communist Party (SACP) said on Wednesday that unbundling Eskom would not solve the power utility's challenges, likening this to the behaviour of alcoholics who deal with their problem by drinking still more alcohol.
President Cyril Ramaphosa last week announced that Eskom would be split into three separate units - generation, transmission, and distribution - in a bid to restructure its balance sheet and help it raise money on capital markets more easily.
Eskom is expected to post a R20.1 billion loss for the financial year to March from the R15 billion it forecast at the time of its mid-year results as a result of overall expenses widening during the period.
The power utility faces the threat of collapse if it does not get a bailout by April this year.
In a statement supporting Cosatu's national day of action against retrenchments and call for decent work, the SACP said the discussion and proposals about saving Eskom from going under was mistaking the "right-wing and reactionary" idea of privatisation as the so-called solution.