Eskom, South Africa’s state-owned monopoly energy provider, is in dire straits. A confluence of institutional and external factors has culminated in a number of extended national blackouts and an unsustainable debt level of over R460 billion at the end of 2019. In addition, the global energy market has changed significantly, calling into question the sustainability of Eskom’s reliance on fossil-fuel powered electricity. This paper provides an overview of the intersecting crises at Eskom and offers an analysis on the proposed energy reforms.