South Africa Resets Utility-Revamp Plan After Investor Furor

South Africa will set up an independent power-transmission company that will own the national grid’s assets, President Cyril Ramaphosa said, rebuffing efforts by his electricity minister to revise an unbundling plan.

The government is restructuring state-owned utility Eskom Holdings SOC Ltd. “and establishing a fully independent state-owned transmission entity, as I have said before,” Ramaphosa told lawmakers in his state-of-the-nation speech in Cape Town on Thursday. “This entity will have ownership and control of transmission assets and be responsible for operating the electricity market.”