Crisis within a Crisis? : How the Financial Crisis Highlights Power Sector Vulnerabilities in Europe and Central Asia Region

The global financial crisis severely affected economies in Eastern Europe and Central Asia (ECA). Currencies depreciated across the region. Government tax revenues declined sharply leading to high budget deficits and rising levels of public debt. T...

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Bibliographic Details
Main Author:	World Bank
Format:	Working Paper
Language:	English en_US
Published:	Washington, DC 2017
Subjects:	ACCESS TO FINANCING ACCESS TO MARKETS ADVISORY SERVICE AFFORDABILITY APPROACH ARREARS AVAILABILITY BALANCE BANK DEBT BANK FINANCING BANK LOANS BARRIERS TO INVESTMENT BIDS BONDS BORROWING BORROWING CAPACITIES BUDGET DEFICIT BUDGET DEFICITS CAPITAL CONSTRAINTS CAPITAL REQUIREMENTS CASH FLOWS CENTRAL BANK CHEMICAL INDUSTRIES COAL COAL MINES COAL MINING COAL PRODUCTION COLLATERAL COLLATERAL REQUIREMENTS COMBUSTION COMMERCIAL BANK COMMERCIAL BANK LENDING COMMERCIAL BANKS COMMERCIAL LENDING CONSUMPTION OF ENERGY CORRUPTION 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 DEVELOPMENT BANK ECONOMIC CRISIS ELECTRICITY ELECTRICITY CONSUMPTION ELECTRICITY DEMAND ELECTRICITY PRODUCERS ELECTRICITY SYSTEM ELECTRICITY TARIFF EMISSION EMISSION REDUCTION EMISSIONS EMISSIONS REGULATIONS 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 CONTRIBUTION EQUITY FINANCING EQUITY INVESTMENTS EQUITY INVESTORS EXCHANGE RATES EXPENDITURE EXPENDITURES FINANCIAL ASSISTANCE 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 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 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 FRAMEWORK LEGAL OBLIGATION LENDERS LENDING CONDITIONS LENDING REQUIREMENTS LINE OF CREDIT LIQUIDITY LOAN 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 NONPERFORMING LOANS NUCLEAR FUEL NUCLEAR POWER NUCLEAR POWER PLANT OIL OPERATING COST OPERATING COSTS PARTIAL CREDIT PARTIAL RISK PAYMENT OBLIGATIONS PEAK CAPACITY PEAK DEMAND POST-CRISIS PERIOD POWER POWER PLANT POWER SECTOR POWER SECTOR PLANNING 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 FRAMEWORK REGULATORY FRAMEWORKS REINVESTMENT RENEWABLE ENERGY RENEWABLE ENERGY CAPACITY RENEWABLE ENERGY PROJECTS RESERVE RESERVES RETURN RETURN ON ASSETS RETURNS RULE OF LAW SHAREHOLDERS SHORT-TERM BORROWINGS SHORT-TERM DEBT SOVEREIGN DEBT STRATEGIC INVESTORS SUPPLY OF FINANCING TARIFF LEVELS TAX TAX EXEMPTIONS TAX REGIME TAX REVENUES TECHNICAL SUPPORT THERMAL POWER THERMAL POWER PLANT THERMAL POWER PLANTS TRADING TRANSMISSION INFRASTRUCTURE TRANSMISSION SYSTEM TREATY UNEMPLOYMENT UNION WIND WIND POWER WIND POWER PLANTS WORKING CAPITAL
Online Access:	http://documents.worldbank.org/curated/en/295061468252913745/Crisis-within-a-crisis-How-the-financial-crisis-highlights-power-sector-vulnerabilities-in-Europe-and-Central-Asia-region http://hdl.handle.net/10986/27850