Many South Africans expressed resigned exasperation at the announcement that the Public Investment Corporation would extend a R5-billion short-term loan as part of a larger R20-billion in emergency funding required to take cash-strapped utility Eskom to its year-end. Sadly, this is but the end of the beginning. The utility now needs to come up with a corporate plan, backed by a credible funding plan, for the coming year. It will have to do so in the context of flat tariffs, falling demand, rising costs and a debt burden that is simply unsustainable. In addition, the shareholder has indicated it must look elsewhere for support. Thankfully, the plan will be overseen, for the first time in a long while, by a credible board.