Turkey – The World Bank believes that the fall in demand for power in Turkey represents a “golden opportunity” for progress to be made toward reforming the electricity sector, according to a report in Tuesday’s Financial Times. A $15.7bn rescue package is available from the World Bank and International Monetary Fund in exchange for liberalization but progress to date has been slow
Powergen – High gas prices have been blamed for Powergen’s decision to mothball a unit at its Killingholme CCGT. The capacity shortfall in its portfolio will be met by bringing back a coal unit at the company’s Kingsnorth plant. The move will be the first mothballing of CCGT in the UK.
Czech republic distributor ZCE – The state has gained the majority in the electricity distribution company Zapodoceska Energetika (ZCE) by buying the last 2 per cent stake. The state owned Ceska Konsolidacni Argentura offer of KC 705m (� 20.5 m) was preferred to the Kc 710m offer of E.ON. Local politicians argued that a good relationship with the state was valued above the bid difference.
Polish CHP plant privatization – The privatisation of the Polish CHP plants Torun and Energotor will start within days. The Polish Treasury Ministry confirmed this. Talks will start this week with the consortium of Wybrzece – Dalkia about the 45 per cent stake in the Torun plant.
Stoen for sale – The polish government has opened the tender for a 10-25 5 stake in Warsaw electricity distributor Stoen. The government wants to close the sale of the stake by the end of this year. Stoen is regarded as one of the most attractive distribution companies in Poland.
Amerada Hess UK – Amerada Hess, the US oil company, has put up for sale its UK gas and electricity businesses. Strong competition in the sectors and a failure to win sufficient market share are blamed for the decision. Interested bidders are likely to include Scottish and Southern Energy, Powergen, Scottish Power, EdF and TXU. Recent energy supply deals indicate a value for the business of �100m – �150m.
Enron/EWZ joint venture – US energy group Enron and EWZ, municipal utility for the Swiss city of Zurich, announced a joint venture on Monday to set up a power trading unit to start operating at the end of October. Enron is experienced in energy trading and risk management and hope to combine its skills with EWZ local knowledge of the Swiss market.
Greece – Greece’s development ministry awarded 10 licences for the production and importation of electrical energy by private companies, a total capacity of more than 2000 MW, it said on Monday. Four licences to supply electrical power were awarded to Enron (five-year contract, 350 MW), Italy’s Enel (seven-year, 250 MW), Swiss Atel (two-year, 300 MW) and Cinergy (five-year, 200 MW). The ministry also awarded six licences for electrical energy plants to Greek and foreign consortia.