Basic premise: Eskom needs money in large part because municipal debt to Eskom is very high. At present government bails out Eskom and it bails out failing municipalities.
Problem: There is not enough money.
Solution: So instead of government giving bail out loans to both Eskom and to municipalities, government should give the bail out loans to the municipalities, but earmarked and secured for payment direct to Eskom.
That way the money works twice.
Eskom will have a better balance sheet because the money will be coming in as a payment for electricity delivered, not as a loan.
So as long as the new brooms at Eskom don't steal the money claiming it as a reward for securing the cash infusion, this should work.
Just a thought.