International Conference to Explore Investment Opportunities in Iraq's Power Industry
Driven by the goal of providing all Iraqi homes and businesses with 24 hours of reliable electricity, the Iraq Ministry of Electricity is working with the US State Department Iraq Transition Office (ITAO) to create a regulatory environment that fosters private investment in the nation’s electricity sector. For the first time, a conference will be held on the topic of regulation and investment in Iraq’s electricity industry. International funders, government officials, regulators, and potential investors will meet in Istanbul 18-19 November, 2009 to participate in Practical Approaches to Regulation and Investment in Iraq’s Electricity Industry.
The interactive conference will be held at the Ciragan Palace Kempinski Hotel.
“We have worked with the sponsors of this conference to develop an Electricity Regulatory Law that creates a transparent, fair regulatory department of regulation that will establish a secure and predictable environment for investors,” said Iraq’s Minister of Electricity Kareem Wahid. “At the same time, the regulatory body will balance the interests of producers and consumers.”
Conference attendees will participate in group discussions and interactive presentations about the role and duties of a Department of Regulation within Iraq’s Ministry of Electricity and the obligations and responsibilities of private investors in the generation market. Implementation of the law will involve procedural and financial issues impacting investors, donors and regulators whose business or public administration interests are dominated by the restructuring of a centrally planned industry and liberalization of emerging markets. Conference attendees will have the opportunity to weigh in on these issues in a structured forum.
David Ensign, Deputy Senior Consultant, ITAO Electricity, said, “The Electricity Regulatory Law represents the initial and most practical step toward the independent regulation of Iraq’s electricity industry. Implementation of this law is imperative for the growth of Iraq’s economy and stabilization of the political and social environments.”
For more information, go to: http://www.regonline.com/regulation_and_investment_in_electricity_in_iraq
About ITAO: The Iraq Transition Assistance Office (ITAO) provides a programming and oversight role to executive departments and agencies in concluding the remaining large infrastructure projects in Iraq. In addition, ITAO works in concert with the various Mission elements to facilitate Iraq’s transition to self-sufficiency, as well as assist in maintaining an effective diplomatic presence in Iraq and throughout the region.
About Parsons Brinckerhoff: Parsons Brinckerhoff (PB) is a leader in developing and operating infrastructure around the world, with 13,000 employees dedicated to meeting the needs of clients and communities in the Americas, Europe, Africa, the Middle East, Asia and Australia-Pacific regions. PB offers skills and resources in strategic consulting, planning, engineering, program/construction management, and operations for all modes of infrastructure, including transportation, power, community development, water and the environment.
About the Iraq Ministry of Electricity: Established in 2003, the Iraq Ministry of Electricity oversees all aspects of Iraq’s electricity system, from generation and transmission to distribution of electricity to Iraqi homes and businesses. With more than 100,000 employees, the Ministry currently faces challenging conditions, includes a shortage of generation facilities.
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