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Author: Vivien Foster
Publisher: World Bank Publications
ISBN: 1464814430
Category : Science
Languages : en
Pages : 482
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Book Description
During the 1990s, a new paradigm for power sector reform was put forward emphasizing the restructuring of utilities, the creation of regulators, the participation of the private sector, and the establishment of competitive power markets. Twenty-five years later, only a handful of developing countries have fully implemented these Washington Consensus policies. Across the developing world, reforms were adopted rather selectively, resulting in a hybrid model, in which elements of market orientation coexist with continued state dominance of the sector. This book aims to revisit and refresh thinking on power sector reform approaches for developing countries. The approach relies heavily on evidence from the past, drawing both on broad global trends and deep case material from 15 developing countries. It is also forward looking, considering the implications of new social and environmental policy goals, as well as the emerging technological disruptions. A nuanced picture emerges. Although regulation has been widely adopted, practice often falls well short of theory, and cost recovery remains an elusive goal. The private sector has financed a substantial expansion of generation capacity; yet, its contribution to power distribution has been much more limited, with efficiency levels that can sometimes be matched by well-governed public utilities. Restructuring and liberalization have been beneficial in a handful of larger middle-income nations but have proved too complex for most countries to implement. Based on these findings, the report points to three major policy implications. First, reform efforts need to be shaped by the political and economic context of the country. The 1990s reform model was most successful in countries that had reached certain minimum conditions of power sector development and offered a supportive political environment. Second, countries found alternative institutional pathways to achieving good power sector outcomes, making a case for greater pluralism. Among the top performers, some pursued the full set of market-oriented reforms, while others retained a more important role for the state. Third, reform efforts should be driven and tailored to desired policy outcomes and less preoccupied with following a predetermined process, particularly since the twenty-first-century century agenda has added decarbonization and universal access to power sector outcomes. The Washington Consensus reforms, while supportive of the twenty-first-century century agenda, will not be able to deliver on them alone and will require complementary policy measures
Author: Vivien Foster
Publisher: World Bank Publications
ISBN: 1464814430
Category : Science
Languages : en
Pages : 482
Get Book Here
Book Description
During the 1990s, a new paradigm for power sector reform was put forward emphasizing the restructuring of utilities, the creation of regulators, the participation of the private sector, and the establishment of competitive power markets. Twenty-five years later, only a handful of developing countries have fully implemented these Washington Consensus policies. Across the developing world, reforms were adopted rather selectively, resulting in a hybrid model, in which elements of market orientation coexist with continued state dominance of the sector. This book aims to revisit and refresh thinking on power sector reform approaches for developing countries. The approach relies heavily on evidence from the past, drawing both on broad global trends and deep case material from 15 developing countries. It is also forward looking, considering the implications of new social and environmental policy goals, as well as the emerging technological disruptions. A nuanced picture emerges. Although regulation has been widely adopted, practice often falls well short of theory, and cost recovery remains an elusive goal. The private sector has financed a substantial expansion of generation capacity; yet, its contribution to power distribution has been much more limited, with efficiency levels that can sometimes be matched by well-governed public utilities. Restructuring and liberalization have been beneficial in a handful of larger middle-income nations but have proved too complex for most countries to implement. Based on these findings, the report points to three major policy implications. First, reform efforts need to be shaped by the political and economic context of the country. The 1990s reform model was most successful in countries that had reached certain minimum conditions of power sector development and offered a supportive political environment. Second, countries found alternative institutional pathways to achieving good power sector outcomes, making a case for greater pluralism. Among the top performers, some pursued the full set of market-oriented reforms, while others retained a more important role for the state. Third, reform efforts should be driven and tailored to desired policy outcomes and less preoccupied with following a predetermined process, particularly since the twenty-first-century century agenda has added decarbonization and universal access to power sector outcomes. The Washington Consensus reforms, while supportive of the twenty-first-century century agenda, will not be able to deliver on them alone and will require complementary policy measures
Author: Mohua Mukherjee
Publisher: World Bank Publications
ISBN: 1464803404
Category : Business & Economics
Languages : en
Pages : 185
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Book Description
Massive private investment that complements public investment is needed to close the demand-supply gap and make reliable power available to all Indians. Government efforts have sought to attract private sector funding and management efficiency throughout the electricity value chain, adapting its strategy over time.
Author: Anton Eberhard
Publisher: World Bank Publications
ISBN: 1464808015
Category : Technology & Engineering
Languages : en
Pages : 385
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Book Description
Inadequate electricity services pose a major impediment to reducing extreme poverty and boosting shared prosperity in Sub-Saharan Africa. Simply put, Africa does not have enough power. Despite the abundant low-carbon and low-cost energy resources available to Sub-Saharan Africa, the region s entire installed electricity capacity, at a little over 80 GW, is equivalent to that of the Republic of Korea. Looking ahead, Sub-Saharan Africa will need to ramp-up its power generation capacity substantially. The investment needed to meet this goal largely exceeds African countries already stretched public finances. Increasing private investment is critical to help expand and improve electricity supply. Historically, most private sector finance has been channeled through privately financed independent power projects (IPP), supported by nonrecourse or limited recourse loans, with long-term power purchase agreements with the state utility or another off-taker. Between 1990 and 2014, IPPs have spread across Sub-Saharan Africa and are now present in 17 countries. Currently, there are 125 IPPs, with an overall installed capacity of 10.7 GW and investments of $24.6 billion. However, private investment could be much greater and less concentrated. South Africa alone accounts for 67 IPPs, 4.3 GW of capacity and $14.4 billion of investments; the remaining projects are concentrated in a handful of countries. The objective of this study is to evaluate the experience of IPPs and identify lessons that can help African countries attract more and better private investment. At the core of this analysis is a reflection on whether IPPs have in fact benefited Sub-Saharan Africa, and how they might be improved. The analysis is based primarily on in depth case studies, carried out in five countries, including Kenya, Nigeria, South Africa, Tanzania and Uganda, which not only have the most numerous but also among the most extensive experience with IPPs.
Author: Katharina Gassner
Publisher: World Bank Publications
ISBN: 0821377175
Category : Law
Languages : en
Pages : 118
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Book Description
This study examines the question of private versus public performance in a natural monopoly setting. It analyzes data from 301 utilities with private sector participation (PSP) and 926 utilities without PSP in 71 developing and transition economies to evaluate the impact of PSP on firm performance in electricity distribution and water and sanitation services. Private participation is shown to be associated with an increase in connections, labor productivity, and bill collection rates, and a decrease in employment and electricity distributional losses.
Author: Douglas F. Barnes
Publisher: Earthscan
ISBN: 1936331691
Category : Law
Languages : en
Pages : 367
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Book Description
Douglas Barnes and his team of development experts provide an essential guide that can help improve the quality of life to the estimated 1.6 billion rural people in the world who are without electricity. The difficulties in bringing electricity to rural areas are formidable: Low population densities result in high capital and operating costs. Consumers are often poor, and their electricity consumption is low. Politicians interfere with the planning and operations of programs, insisting on favored constituents. Yet, as Barnes and his contributors demonstrate, many countries have overcome these obstacles. The Challenge of Rural Electrification provides lessons from successful programs in Bangladesh, Chile, China, Costa Rica, Mexico, the Philippines, Thailand, and Tunisia, as well as Ireland and the United States. These insights are presented in a format that should be accessible to a broad range of policymakers, development professionals, and community advocates. Barnes and his contributors do not provide a single formula for bringing electricity to rural areas. They do not recommend a specific set of institutional arrangements for the participation of public sector companies, cooperatives, and private firms. They argue instead that successful programs follow a flexible, but still well-defined set of principles: a financially viable plan that clearly accounts for any subsidies; a cooperative relationship between electricity providers and local communities; and an operational separation from day-to-day government and politics.
Author: Jack D. Glen
Publisher: Washington, D.C. : World Bank
ISBN:
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
This discussion paper looks at the past and potential future role of the private sector in electricity generation in developing countries. It considers the supply of electricity by the private sector as well as the role of private sector demand for electricity in total investment needs. A case for private sector involvement in the sector is made, to some extent based on evidence from the deregulation and privatization that has taken place in countries around the world. The International Finance Corporation (IFC) historical and potential role in the sector is also examined.
Author: Henrik M. Inadomi
Publisher: Kluwer Law International B.V.
ISBN: 9041131787
Category : Technology & Engineering
Languages : en
Pages : 418
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Book Description
For developing countries, a stable and secure supply of electricity is crucial for development, and for their populations' well-being. Since the early 1990s, the main mechanism for constructing power generation facilities in developing countries has been the independent power project (IPP) model, where a foreign investor enters into long term investment contracts with the national utility. This model has succeeded in attracting investment, but raises complex regulatory and contractual challenges in addition to public concerns. This book - drawing on project contracts, the author's interview sources, case law and literature - analyzes in detail the legal investment protection used by IPP investors to ensure sufficient returns and protect their contracted revenue stream. The author examines how the model's corporate / financial structure interlocks with strong contractual rights and with a number of measures used to improve the host country's creditworthiness in the short and long term (including investment guarantees).The second part of the book identifies that the IPP model normally leads to six main consequences for the host developing country: The IPP model has led to private investment, which has increases reliability, modernization and introduced private standards; It contains an intrinsic structural weakness in times of economic downturns; It has shown a tendency to lead to overinvestment in generation capacity; It has shown a tendency to lead to expensive and suboptimal solutions regarding choice of design and technology; The model (and its institutional surroundings) contains insufficient disincentives against moral hazard and exploitative behavior (including corruption); and The IPP model does not facilitate a further development of the host country's power sector. The author argues that these consequences for development can be improved without detrimentally compromising the private sector's willingness to continue to invest. While pursuing this analysis, the author also explores such issues as the following: ; the web of parties and contracts constituting the IPP model, including the model's risk allocation; an analysis of political risk, including to what extent foreign investors also are protected against commercial and credit risks; the competing needs of predictability and flexibility in long term contracts; how investment arbitration tribunals have reacted both to the change in macroeconomic circumstances caused by the East Asian Crisis of 1997-98, and to numerable and credible allegations of corruption during procurement identification of factors reducing, or increasing, the IPP model's tendency to fail during severe economic recessions
Author: Chinese Academy of Engineering
Publisher: National Academies Press
ISBN: 0309160006
Category : Science
Languages : en
Pages : 256
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Book Description
The United States and China are the world's top two energy consumers and, as of 2010, the two largest economies. Consequently, they have a decisive role to play in the world's clean energy future. Both countries are also motivated by related goals, namely diversified energy portfolios, job creation, energy security, and pollution reduction, making renewable energy development an important strategy with wide-ranging implications. Given the size of their energy markets, any substantial progress the two countries make in advancing use of renewable energy will provide global benefits, in terms of enhanced technological understanding, reduced costs through expanded deployment, and reduced greenhouse gas (GHG) emissions relative to conventional generation from fossil fuels. Within this context, the U.S. National Academies, in collaboration with the Chinese Academy of Sciences (CAS) and Chinese Academy of Engineering (CAE), reviewed renewable energy development and deployment in the two countries, to highlight prospects for collaboration across the research to deployment chain and to suggest strategies which would promote more rapid and economical attainment of renewable energy goals. Main findings and concerning renewable resource assessments, technology development, environmental impacts, market infrastructure, among others, are presented. Specific recommendations have been limited to those judged to be most likely to accelerate the pace of deployment, increase cost-competitiveness, or shape the future market for renewable energy. The recommendations presented here are also pragmatic and achievable.
Author: National Academies of Sciences, Engineering, and Medicine
Publisher: National Academies Press
ISBN: 0309371422
Category : Science
Languages : en
Pages : 341
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Book Description
Electricity, supplied reliably and affordably, is foundational to the U.S. economy and is utterly indispensable to modern society. However, emissions resulting from many forms of electricity generation create environmental risks that could have significant negative economic, security, and human health consequences. Large-scale installation of cleaner power generation has been generally hampered because greener technologies are more expensive than the technologies that currently produce most of our power. Rather than trade affordability and reliability for low emissions, is there a way to balance all three? The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies considers how to speed up innovations that would dramatically improve the performance and lower the cost of currently available technologies while also developing new advanced cleaner energy technologies. According to this report, there is an opportunity for the United States to continue to lead in the pursuit of increasingly clean, more efficient electricity through innovation in advanced technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies makes the case that America's advantagesâ€"world-class universities and national laboratories, a vibrant private sector, and innovative states, cities, and regions that are free to experiment with a variety of public policy approachesâ€"position the United States to create and lead a new clean energy revolution. This study focuses on five paths to accelerate the market adoption of increasing clean energy and efficiency technologies: (1) expanding the portfolio of cleaner energy technology options; (2) leveraging the advantages of energy efficiency; (3) facilitating the development of increasing clean technologies, including renewables, nuclear, and cleaner fossil; (4) improving the existing technologies, systems, and infrastructure; and (5) leveling the playing field for cleaner energy technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies is a call for leadership to transform the United States energy sector in order to both mitigate the risks of greenhouse gas and other pollutants and to spur future economic growth. This study's focus on science, technology, and economic policy makes it a valuable resource to guide support that produces innovation to meet energy challenges now and for the future.
Author: Tooraj Jamasb
Publisher: World Bank Publications
ISBN:
Category : Electric power
Languages : en
Pages : 78
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Book Description
"Driven by ideology, economic reasoning, and early success stories, vast amounts of financial resources and effort have been spent on reforming infrastructure industries in developing countries. It is therefore important to examine whether evidence supports the logic of reforms. The authors review the empirical evidence on electricity reform in developing countries. They find that country institutions and sector governance play an important role in the success and failure of reform. And reforms also appear to have increased operating efficiency and expanded access to urban customers. However, the reforms have to a lesser degree passed on efficiency gains to customers, tackled distributional effects, and improved rural access. Moreover, some of the literature is not methodologically robust and on par with general development economics literature. Further, findings on some issues are limited and inconclusive, while other important areas are yet to be addressed. Until we know more, implementation of reforms will be more based on ideology and economic theory rather than solid economic evidence. "--World Bank web site.
