2012年-世界发展银行全球_International_Experience_with_Private_Sector_Participation_in_Power_Grids___Peru_Case_Study_43页_744kb

Peru Case Study: Private Sector Participation in Power Grids

Core Content

This case study examines the experience of private sector participation (PSP) in the electricity transmission and distribution (T&D) sectors in Peru, as part of a broader analysis by the Energy Sector Management Assistance Program (ESMAP) to advise World Bank staff and country clients on PSP options. The report draws on data from the Peruvian power sector, including statistical reports, legislation, and interviews with key stakeholders.

Main Objectives

• To advise on options for PSP in T&D systems, based on international experience and specific country circumstances.
• To identify best practices and lessons learned from successful reforms.
• To evaluate the impact of PSP on the performance of the power sector.

Key Activities

• Data Collection: Utilized statistical reports from the Ministry of Mines and Energy (MINEM), OSINERGMIN, and other regulatory bodies.
• Interviews: Conducted with government agencies, power sector companies, and experts, including MINEM, OSINERGMIN, COES, and private and public entities.
• Analysis: Evaluated the evolution of the power market, legal frameworks, and the role of the private sector in the sector's performance.

Overview of the Power Sector Reform in Peru

Crisis and Reform Urgency

In the 1980s, Peru experienced a severe economic and power sector crisis, marked by hyperinflation, declining output, and real wages. The power sector was characterized by poor service quality, inefficient public utilities, and serious financial issues. In 1989, power restrictions reached 13-20% of demand, and sector utilities had been incurring losses since 1986.

First Generation Reform (1992-1993)

The reform was initiated through the Law of Power Concessions (LCE) in 1993, which established a new legal framework for the power sector. The LCE introduced:

• A system of private concessions for generation, transmission, and distribution.
• A cost-based pricing system.
• An unregulated wholesale energy market.
• A new sector regulator, OSINERGMIN.
• A system operator, COES.
• Open access to transmission and distribution facilities.

This reform was instrumental in restructuring the sector and initiating the privatization of assets.

Second Generation Reform (2006)

In response to challenges such as declining private investment and a severe drought, Peru introduced a second generation of reforms in 2006. These included:

• Strengthening planning and regulatory frameworks.
• Improving the pricing policy, especially for transmission.
• Introducing BOOT (Build, Own, Operate, Transfer) low-risk contracts for transmission concessions.
• Addressing the need for a more inclusive organization of COES.

Rationale for Private Sector Participation

• Fresh Capital and Efficiency: The reform aimed to attract private investment to improve efficiency and reduce transmission bottlenecks without overburdening public finances.
• De-politicization: Private ownership in distribution was seen as a way to prevent arbitrary government interference and reduce the politicization of electricity tariffs.

Challenges and Barriers

• Legacy of Public Monopoly: The reform faced resistance from a culture of state control and the belief that the power sector was a natural monopoly.
• Attracting Investment: The initial phase required significant changes in policy and legal frameworks to make the sector attractive for private investors.
• Social and Environmental Licensing: Transmission projects face challenges in obtaining necessary approvals, which can delay or hinder development.

Impact of PSP on the Power Sector

• The reform led to significant improvements in the technical, commercial, and financial performance of the sector.
• Distribution losses decreased significantly after the reform, indicating improved efficiency.
• Private investment dominated the expansion of the sector, contributing to a substantial increase in generating capacity and transmission infrastructure.
• By 2010, the private sector owned 74% of generating capacity and most of the high-voltage transmission system.
• In distribution, the private sector serves 2.1 million consumers out of a total of 4.9 million.

Drivers of Success and Lessons Learned

• Legal and Regulatory Framework: Establishing a clear and effective regulatory environment was crucial for the success of the reform.
• Separation of Roles: Creating a separate system operator (COES) and regulator (OSINERGMIN) helped ensure market transparency and fair competition.
• Experience of Bidders: The presence of experienced bidders was a key factor in the success of privatization efforts.
• Cost-Reflective Tariffs: The tariff system was based on full cost recovery, which helped ensure financial sustainability.
• Sequencing of Reforms: The successful sequencing of PSP and regulatory reforms was essential for long-term sector development.
• Social License: The increasing difficulty in obtaining social licenses for transmission projects highlights the need for public support and coordination.

Outstanding Issues

• Poor Performance of Public Distribution Utilities: Despite the reform, public distribution utilities still face challenges in efficiency and service quality.
• Social and Environmental Licensing: Developers continue to struggle with the social and environmental approvals for new transmission projects.

Conclusion

The Peruvian power sector reform, driven by the need for economic recovery and efficiency, was successful in attracting private investment and improving performance. However, challenges remain, particularly in the distribution and transmission sectors, highlighting the importance of a robust regulatory framework and public engagement in future developments.