A five-part series of reports was commissioned by the Asian Development Bank (ADB) to encourage both private sector investment and competition in infrastructure development. This report focuses on the power sector; the other reports cover the road, water supply, airport and air traffic control, and port sectors.
In the electricity sector, independent power producers (IPPs) provided a quick solution (in the Philippines, for example) by offering generation capacity needed for rapid economic growth. However, the costs were often high because the new capacity was not consistent with the least-cost expansion path and the private sector required high rates of return. However, these costs have been decreasing as the IPP market has matured. The focus on production rather than efficient distribution put the public sector in the position of retaining that activity in which it was least effective and restricting the private sector from performing the customer focused activities (distribution and supply) where it had real expertise. At the same time, it isolated the private sector from the market through a combination of regulated pricing and guarantees against commercial risks.
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