The World Bank's new energy strategy (Bretton Woods Project) - 0 views
www.brettonwoodsproject.org/art-565665
petroleum industry development oil international extractive resource transparency curse world bank renewable energy
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Based upon the model implemented in England and Wales and in some parts of the United States and Latin America, reforms were geared towards restructuring and privatising state-owned electricity utilities in order to try to improve efficiency through competitive wholesale electricity markets.
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The impact of reform on poverty reduction also became a cause for concern. Even where private sector participation had occurred, expanding access to non-industrial consumers had been considered unprofitable. Stark figures for household access levels, such as 2 billion people without access to electricity worldwide, were difficult to ignoreii.
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interestingly, PSMPs tend to emphasise use of large-scale generation projects to exploit hydro and thermal potential and regional integration of grid networks. Whilst a stable grid serving the entire population might be an attractive long-term goal, rarely has such distributional equity been achieved. More often than not, grid extension programmes have failed to reach the rural poor because they have not always proven to be the most cost-effective means of expanding access to rural areas, mainly due to low population density and greater technical losses as transmission networks increase.
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the mobilisation of private investment is still very important and Bank funding can play a key role in leveraging it. Private investors look to fund ‘bankable’ projects – projects with low risk and quick returns. The result is a bias toward established fossil fuel technologies. Given this bias, when the Bank aims to leverage private sector investment, its funds should be directed towards making low-carbon energy technologies commercially available and competitive.