Outage : Investment Shortfalls in the Power Sector in Eastern Europe and Central Asia
Before the onset of the global financial crisis in late 2008, countries in Eastern Europe and Central Asia (ECA) experienced strong economic growth. Demand for electricity increased steadily with gross domestic product (GDP). GDP grew, on average,...
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| Format: | Publication |
| Language: | English |
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World Bank
2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20110411012951 http://hdl.handle.net/10986/2284 |
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okr-10986-2284 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO FINANCING ADVISORY SERVICE AFFORDABILITY APPROACH APPROVAL PROCESS ARREARS AVAILABILITY BALANCE BANK DEBT BANK FINANCING BANK LOAN BANK LOANS BARRIERS TO INVESTMENT BIDS BONDS BORROWING BORROWING CAPACITIES BUDGET DEFICIT BUDGET DEFICITS CAPITAL CONSTRAINTS CAPITAL REQUIREMENTS CENTRAL BANK CHEMICAL INDUSTRIES COAL COAL MINES COAL MINING COAL PRODUCTION COLLATERAL COLLATERAL REQUIREMENTS COMBUSTION COMMERCIAL BANK COMMERCIAL BANK LENDING COMMERCIAL BANKS COMMERCIAL LENDERS COMMERCIAL LENDING CONSUMPTION OF ENERGY COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER COST OF ELECTRICITY CREDIBILITY CREDIT GROWTH CREDIT GUARANTEE CREDIT GUARANTEES CREDIT RISK CURRENCY CURRENCY DEPRECIATION CURRENCY DEPRECIATIONS DEBT LEVELS DEBT PAYMENT DEBT SERVICE DEFAULT RATINGS DEMAND FOR ELECTRICITY DEMAND FORECAST DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY ELECTRICITY CONSUMPTION ELECTRICITY DEMAND ELECTRICITY PRODUCERS ELECTRICITY TARIFF EMISSION EMISSION REDUCTION EMPLOYMENT ENERGY CONSUMPTION ENERGY DEMAND ENERGY EFFICIENCY ENERGY EFFICIENCY INVESTMENTS ENERGY OUTLOOK ENERGY SHORTAGE ENERGY SHORTAGES ENERGY SUPPLY ENFORCEMENT OF CONTRACTS EQUIPMENT EQUITY CAPITAL EQUITY FINANCING EQUITY INVESTMENTS EQUITY INVESTORS EXCHANGE RATES EXPENDITURE EXPENDITURES FINANCIAL COVENANTS FINANCIAL CRISIS FINANCIAL HEALTH FINANCIAL PERFORMANCE FINANCING COSTS FINANCING NEEDS FISCAL CONSTRAINTS FIXED COSTS FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN EQUITY FOREIGN INVESTORS FUEL FUEL CONSUMPTION FUEL COSTS FUEL PRICES GAP FINANCING GAS GAS PRICES GENERATING CAPACITY GENERATION GENERATION CAPACITY GOVERNANCE INDICATORS GOVERNMENT BUDGET GOVERNMENT BUDGET DEFICITS GOVERNMENT POLICY GROSS DOMESTIC PRODUCT HEAT HEAT TARIFF HIGH ELECTRICITY DEMAND HIGHER GAS HOLDING HYDROPOWER HYDROPOWER PLANT INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTION INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL FINANCIAL MARKETS INVESTING INVESTMENT BANK INVESTMENT CLIMATE INVESTMENT IN ENERGY EFFICIENCY INVESTMENT PLANS INVESTMENT STRATEGY KILOWATT HOUR LACK OF TRANSPARENCY LARGE POWER PLANTS LEGAL OBLIGATION LENDERS LENDING CONDITIONS LENDING REQUIREMENTS LINE OF CREDIT LIQUIDITY LOAN AGREEMENT LOCAL CURRENCIES LOCAL CURRENCY LONG-TERM INTEREST LONG-TERM INTEREST RATES LONG-TERM INVESTMENTS MARKET PRICES MARKET REFORMS MARKET RISK MARKET RISKS MARKET SHARE MARKET TRANSACTIONS MATURITIES MONETARY FUND NATURAL GAS NATURAL GAS PRICES NEW COMPANIES NON-PERFORMING LOANS NUCLEAR FUEL NUCLEAR POWER NUCLEAR POWER PLANT OIL OPERATING COST OPERATING COSTS PARTIAL CREDIT PARTIAL RISK PAYMENT OBLIGATIONS PEAK DEMAND POWER POWER PLANT POWER SECTOR POWER SECTORS PRICE OF COAL PRIVATE FINANCING PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE INVESTORS PRIVATE SECTOR FINANCING PRIVATIZATION PROFIT MARGINS PROFITABILITY PROPERTY RIGHTS PROTECTION MEASURES PUBLIC BUDGETS PUBLIC DEBT PUBLIC SPENDING RECESSION REGULATORY FRAMEWORKS REINVESTMENT RENEWABLE ENERGY RENEWABLE ENERGY CAPACITY RENEWABLE ENERGY PROJECTS RESERVE RESERVES RETURN RETURN ON ASSETS RETURN ON INVESTMENT SHAREHOLDERS SHORT-TERM BORROWINGS SHORT-TERM DEBT SOVEREIGN DEBT STRATEGIC INVESTORS SUPPLY OF FINANCING SUSTAINABLE INVESTMENT TARIFF LEVELS TAX TAX EXEMPTIONS TAX REVENUES TECHNICAL ASSISTANCE TECHNICAL SUPPORT THERMAL POWER THERMAL POWER PLANT THERMAL POWER PLANTS TRADING TRANSMISSION SYSTEM TREATY UNEMPLOYMENT UNION UTILITY COMPANY WIND WIND POWER WIND POWER PLANTS WORKING CAPITAL |
| spellingShingle |
ACCESS TO FINANCING ADVISORY SERVICE AFFORDABILITY APPROACH APPROVAL PROCESS ARREARS AVAILABILITY BALANCE BANK DEBT BANK FINANCING BANK LOAN BANK LOANS BARRIERS TO INVESTMENT BIDS BONDS BORROWING BORROWING CAPACITIES BUDGET DEFICIT BUDGET DEFICITS CAPITAL CONSTRAINTS CAPITAL REQUIREMENTS CENTRAL BANK CHEMICAL INDUSTRIES COAL COAL MINES COAL MINING COAL PRODUCTION COLLATERAL COLLATERAL REQUIREMENTS COMBUSTION COMMERCIAL BANK COMMERCIAL BANK LENDING COMMERCIAL BANKS COMMERCIAL LENDERS COMMERCIAL LENDING CONSUMPTION OF ENERGY COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER COST OF ELECTRICITY CREDIBILITY CREDIT GROWTH CREDIT GUARANTEE CREDIT GUARANTEES CREDIT RISK CURRENCY CURRENCY DEPRECIATION CURRENCY DEPRECIATIONS DEBT LEVELS DEBT PAYMENT DEBT SERVICE DEFAULT RATINGS DEMAND FOR ELECTRICITY DEMAND FORECAST DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY ELECTRICITY CONSUMPTION ELECTRICITY DEMAND ELECTRICITY PRODUCERS ELECTRICITY TARIFF EMISSION EMISSION REDUCTION EMPLOYMENT ENERGY CONSUMPTION ENERGY DEMAND ENERGY EFFICIENCY ENERGY EFFICIENCY INVESTMENTS ENERGY OUTLOOK ENERGY SHORTAGE ENERGY SHORTAGES ENERGY SUPPLY ENFORCEMENT OF CONTRACTS EQUIPMENT EQUITY CAPITAL EQUITY FINANCING EQUITY INVESTMENTS EQUITY INVESTORS EXCHANGE RATES EXPENDITURE EXPENDITURES FINANCIAL COVENANTS FINANCIAL CRISIS FINANCIAL HEALTH FINANCIAL PERFORMANCE FINANCING COSTS FINANCING NEEDS FISCAL CONSTRAINTS FIXED COSTS FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN EQUITY FOREIGN INVESTORS FUEL FUEL CONSUMPTION FUEL COSTS FUEL PRICES GAP FINANCING GAS GAS PRICES GENERATING CAPACITY GENERATION GENERATION CAPACITY GOVERNANCE INDICATORS GOVERNMENT BUDGET GOVERNMENT BUDGET DEFICITS GOVERNMENT POLICY GROSS DOMESTIC PRODUCT HEAT HEAT TARIFF HIGH ELECTRICITY DEMAND HIGHER GAS HOLDING HYDROPOWER HYDROPOWER PLANT INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTION INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL FINANCIAL MARKETS INVESTING INVESTMENT BANK INVESTMENT CLIMATE INVESTMENT IN ENERGY EFFICIENCY INVESTMENT PLANS INVESTMENT STRATEGY KILOWATT HOUR LACK OF TRANSPARENCY LARGE POWER PLANTS LEGAL OBLIGATION LENDERS LENDING CONDITIONS LENDING REQUIREMENTS LINE OF CREDIT LIQUIDITY LOAN AGREEMENT LOCAL CURRENCIES LOCAL CURRENCY LONG-TERM INTEREST LONG-TERM INTEREST RATES LONG-TERM INVESTMENTS MARKET PRICES MARKET REFORMS MARKET RISK MARKET RISKS MARKET SHARE MARKET TRANSACTIONS MATURITIES MONETARY FUND NATURAL GAS NATURAL GAS PRICES NEW COMPANIES NON-PERFORMING LOANS NUCLEAR FUEL NUCLEAR POWER NUCLEAR POWER PLANT OIL OPERATING COST OPERATING COSTS PARTIAL CREDIT PARTIAL RISK PAYMENT OBLIGATIONS PEAK DEMAND POWER POWER PLANT POWER SECTOR POWER SECTORS PRICE OF COAL PRIVATE FINANCING PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE INVESTORS PRIVATE SECTOR FINANCING PRIVATIZATION PROFIT MARGINS PROFITABILITY PROPERTY RIGHTS PROTECTION MEASURES PUBLIC BUDGETS PUBLIC DEBT PUBLIC SPENDING RECESSION REGULATORY FRAMEWORKS REINVESTMENT RENEWABLE ENERGY RENEWABLE ENERGY CAPACITY RENEWABLE ENERGY PROJECTS RESERVE RESERVES RETURN RETURN ON ASSETS RETURN ON INVESTMENT SHAREHOLDERS SHORT-TERM BORROWINGS SHORT-TERM DEBT SOVEREIGN DEBT STRATEGIC INVESTORS SUPPLY OF FINANCING SUSTAINABLE INVESTMENT TARIFF LEVELS TAX TAX EXEMPTIONS TAX REVENUES TECHNICAL ASSISTANCE TECHNICAL SUPPORT THERMAL POWER THERMAL POWER PLANT THERMAL POWER PLANTS TRADING TRANSMISSION SYSTEM TREATY UNEMPLOYMENT UNION UTILITY COMPANY WIND WIND POWER WIND POWER PLANTS WORKING CAPITAL Balabanyan, Ani Vrenezi, Edon Pierce, Lauren Hankinson, Denzel Outage : Investment Shortfalls in the Power Sector in Eastern Europe and Central Asia |
| geographic_facet |
Europe and Central Asia Eastern Europe Central Asia |
| relation |
Directions in Development ; energy and mining |
| description |
Before the onset of the global financial
crisis in late 2008, countries in Eastern Europe and Central
Asia (ECA) experienced strong economic growth. Demand for
electricity increased steadily with gross domestic product
(GDP). GDP grew, on average, 6.5 percent between 2000 and
2007, and electricity consumption per capita grew 2.75
percent. Meanwhile, energy security and supply reliability
were a growing concern for policymakers and planners.
Despite increased access to financing through the opening of
international financial markets, under-maintenance of old
soviet-era power sector infrastructure created a backlog of
critical investments threatening the stability of the
sector. As a result, a gap between demand and available
supply capacity was beginning to emerge. This report
analyzes the impacts of the financial crisis on power
sectors in the ECA region through the experience of five
countries (the study countries); Armenia, the Kyrgyz
Republic, Romania, Serbia, and Ukraine. The report's
objective is to help policymakers in the region plan and
prioritize electricity sector investments in the wake of the
financial crisis, and to provide a basis for future
discussions about World Bank assistance. |
| format |
Publications & Research :: Publication |
| author |
Balabanyan, Ani Vrenezi, Edon Pierce, Lauren Hankinson, Denzel |
| author_facet |
Balabanyan, Ani Vrenezi, Edon Pierce, Lauren Hankinson, Denzel |
| author_sort |
Balabanyan, Ani |
| title |
Outage : Investment Shortfalls in
the Power Sector in Eastern Europe and Central Asia |
| title_short |
Outage : Investment Shortfalls in
the Power Sector in Eastern Europe and Central Asia |
| title_full |
Outage : Investment Shortfalls in
the Power Sector in Eastern Europe and Central Asia |
| title_fullStr |
Outage : Investment Shortfalls in
the Power Sector in Eastern Europe and Central Asia |
| title_full_unstemmed |
Outage : Investment Shortfalls in
the Power Sector in Eastern Europe and Central Asia |
| title_sort |
outage : investment shortfalls in
the power sector in eastern europe and central asia |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20110411012951 http://hdl.handle.net/10986/2284 |
| _version_ |
1764385178358120448 |
| spelling |
okr-10986-22842021-04-23T14:02:00Z Outage : Investment Shortfalls in the Power Sector in Eastern Europe and Central Asia Balabanyan, Ani Vrenezi, Edon Pierce, Lauren Hankinson, Denzel ACCESS TO FINANCING ADVISORY SERVICE AFFORDABILITY APPROACH APPROVAL PROCESS ARREARS AVAILABILITY BALANCE BANK DEBT BANK FINANCING BANK LOAN BANK LOANS BARRIERS TO INVESTMENT BIDS BONDS BORROWING BORROWING CAPACITIES BUDGET DEFICIT BUDGET DEFICITS CAPITAL CONSTRAINTS CAPITAL REQUIREMENTS CENTRAL BANK CHEMICAL INDUSTRIES COAL COAL MINES COAL MINING COAL PRODUCTION COLLATERAL COLLATERAL REQUIREMENTS COMBUSTION COMMERCIAL BANK COMMERCIAL BANK LENDING COMMERCIAL BANKS COMMERCIAL LENDERS COMMERCIAL LENDING CONSUMPTION OF ENERGY COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER COST OF ELECTRICITY CREDIBILITY CREDIT GROWTH CREDIT GUARANTEE CREDIT GUARANTEES CREDIT RISK CURRENCY CURRENCY DEPRECIATION CURRENCY DEPRECIATIONS DEBT LEVELS DEBT PAYMENT DEBT SERVICE DEFAULT RATINGS DEMAND FOR ELECTRICITY DEMAND FORECAST DEPOSITS DEVELOPING COUNTRIES DEVELOPMENT BANK ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ELECTRICITY ELECTRICITY CONSUMPTION ELECTRICITY DEMAND ELECTRICITY PRODUCERS ELECTRICITY TARIFF EMISSION EMISSION REDUCTION EMPLOYMENT ENERGY CONSUMPTION ENERGY DEMAND ENERGY EFFICIENCY ENERGY EFFICIENCY INVESTMENTS ENERGY OUTLOOK ENERGY SHORTAGE ENERGY SHORTAGES ENERGY SUPPLY ENFORCEMENT OF CONTRACTS EQUIPMENT EQUITY CAPITAL EQUITY FINANCING EQUITY INVESTMENTS EQUITY INVESTORS EXCHANGE RATES EXPENDITURE EXPENDITURES FINANCIAL COVENANTS FINANCIAL CRISIS FINANCIAL HEALTH FINANCIAL PERFORMANCE FINANCING COSTS FINANCING NEEDS FISCAL CONSTRAINTS FIXED COSTS FOREIGN CURRENCY FOREIGN CURRENCY DEBT FOREIGN EQUITY FOREIGN INVESTORS FUEL FUEL CONSUMPTION FUEL COSTS FUEL PRICES GAP FINANCING GAS GAS PRICES GENERATING CAPACITY GENERATION GENERATION CAPACITY GOVERNANCE INDICATORS GOVERNMENT BUDGET GOVERNMENT BUDGET DEFICITS GOVERNMENT POLICY GROSS DOMESTIC PRODUCT HEAT HEAT TARIFF HIGH ELECTRICITY DEMAND HIGHER GAS HOLDING HYDROPOWER HYDROPOWER PLANT INTEREST RATES INTERNATIONAL BANK INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTION INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL FINANCIAL MARKETS INVESTING INVESTMENT BANK INVESTMENT CLIMATE INVESTMENT IN ENERGY EFFICIENCY INVESTMENT PLANS INVESTMENT STRATEGY KILOWATT HOUR LACK OF TRANSPARENCY LARGE POWER PLANTS LEGAL OBLIGATION LENDERS LENDING CONDITIONS LENDING REQUIREMENTS LINE OF CREDIT LIQUIDITY LOAN AGREEMENT LOCAL CURRENCIES LOCAL CURRENCY LONG-TERM INTEREST LONG-TERM INTEREST RATES LONG-TERM INVESTMENTS MARKET PRICES MARKET REFORMS MARKET RISK MARKET RISKS MARKET SHARE MARKET TRANSACTIONS MATURITIES MONETARY FUND NATURAL GAS NATURAL GAS PRICES NEW COMPANIES NON-PERFORMING LOANS NUCLEAR FUEL NUCLEAR POWER NUCLEAR POWER PLANT OIL OPERATING COST OPERATING COSTS PARTIAL CREDIT PARTIAL RISK PAYMENT OBLIGATIONS PEAK DEMAND POWER POWER PLANT POWER SECTOR POWER SECTORS PRICE OF COAL PRIVATE FINANCING PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE INVESTORS PRIVATE SECTOR FINANCING PRIVATIZATION PROFIT MARGINS PROFITABILITY PROPERTY RIGHTS PROTECTION MEASURES PUBLIC BUDGETS PUBLIC DEBT PUBLIC SPENDING RECESSION REGULATORY FRAMEWORKS REINVESTMENT RENEWABLE ENERGY RENEWABLE ENERGY CAPACITY RENEWABLE ENERGY PROJECTS RESERVE RESERVES RETURN RETURN ON ASSETS RETURN ON INVESTMENT SHAREHOLDERS SHORT-TERM BORROWINGS SHORT-TERM DEBT SOVEREIGN DEBT STRATEGIC INVESTORS SUPPLY OF FINANCING SUSTAINABLE INVESTMENT TARIFF LEVELS TAX TAX EXEMPTIONS TAX REVENUES TECHNICAL ASSISTANCE TECHNICAL SUPPORT THERMAL POWER THERMAL POWER PLANT THERMAL POWER PLANTS TRADING TRANSMISSION SYSTEM TREATY UNEMPLOYMENT UNION UTILITY COMPANY WIND WIND POWER WIND POWER PLANTS WORKING CAPITAL Before the onset of the global financial crisis in late 2008, countries in Eastern Europe and Central Asia (ECA) experienced strong economic growth. Demand for electricity increased steadily with gross domestic product (GDP). GDP grew, on average, 6.5 percent between 2000 and 2007, and electricity consumption per capita grew 2.75 percent. Meanwhile, energy security and supply reliability were a growing concern for policymakers and planners. Despite increased access to financing through the opening of international financial markets, under-maintenance of old soviet-era power sector infrastructure created a backlog of critical investments threatening the stability of the sector. As a result, a gap between demand and available supply capacity was beginning to emerge. This report analyzes the impacts of the financial crisis on power sectors in the ECA region through the experience of five countries (the study countries); Armenia, the Kyrgyz Republic, Romania, Serbia, and Ukraine. The report's objective is to help policymakers in the region plan and prioritize electricity sector investments in the wake of the financial crisis, and to provide a basis for future discussions about World Bank assistance. 2012-03-19T09:03:13Z 2012-03-19T09:03:13Z 2011-03-22 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20110411012951 978-0-8213-8738-2 http://hdl.handle.net/10986/2284 English Directions in Development ; energy and mining CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank Publications & Research :: Publication Publications & Research :: Publication Europe and Central Asia Eastern Europe Central Asia |