In early 1996, the Privatization Committee for the Water &
Electricity Sector (PCWES) was formed. In addition to restructuring
the industry, the Privatization of the Water & Electricity
Sector of Abu Dhabi was to accomplish the following principle
goals and objectives:
- To
provide secure, safe, and reliable supplies of water and
electricity;
- To
recover lost economic efficiencies;
- To
improve customer services and reduce costs to consumers;
- To
encourage private sector investment;
- To
develop employment opportunities for UAE nationals; and
- To
maximize returns from the sale of existing government owned
assets.
The Privatization
Committee’s activities involved the extensive use of
consultants to prepare recommendations for the restructuring
of the existing sector, formulate plans for the implementation
of the privatization activities, and recommend legislation
to accomplish the legal aspects of the privatization of the
sector.
Following
nearly two years of effort by the Privatization Committee,
the Government of the Emirate of Abu Dhabi approved legislation
(Law No. 2 of 1998), establishing the Abu Dhabi Water &
Electricity Authority (ADWEA). By virtue of an Emiri Decree
issued at the same time, the Board of Management of ADWEA
was formed under the chairmanship of H.H. Sheikh Diab bin
Zayed Al Nahyan.
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