Prof Anton Eberhard, presented the 2018 Academy Lecture on 1 November 2018 in the Snape Lecture Theatre at the University of Cape Town and on 18 March 2019 at the University of Pretoria. Anton Eberhard is a Professor Emeritus and Senior Scholar at the University of Cape Town where he directs the Management Programme in Infrastructure Investment, Reform and Regulation at the Graduate School of Business. His research and teaching focuses on governance and regulatory incentives to improve utility performance, the political-economy of power sector reform, investment challenges, and linkages to sustainable development. A recent focus has been the design of renewable energy auctions. He has worked in the energy sector across Sub-Saharan Africa, and other developing regions, for more than 35 years and was the founding Director of the Energy and Development Research Centre. He is a Foundation Member of the Academy of Science of South Africa. Previously he chaired the Deputy-President’s Advisory Panel on South Africa’s Electricity Crisis and has served on the country’s Ministerial Advisory Council on Energy, the National Planning Commission, the National Advisory Council on Innovation and the Board of the National Electricity Regulator of South Africa. The lecture focused on the changes in the field of energy generation and the need for institutional change at Eskom to ensure its survival.