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Iraq wastes nearly a billion dollars on power plants that it does not own
The first 2023/08/17
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Baghdad: Rula Wathiq and Shaima Rashid .
According to information from the Supervision Bureau to “Al-Sabah”, “The Bureau’s report during last June, which is concerned with specialized auditing of the activities of the Department of Investments and Contracts in Electricity, confirmed that the Ministry of Electricity bears large sums of money as a result of the purchase by the (Take or Pay) method, which obliges the Ministry to pay Amounts for unreceived energy, regardless of any emergency circumstance, whether fuel shortages or transmission line failures," noting that "what was actually spent on unreceived energy is approximately $937 million for the years (2017-2022)."
The Bureau's report stated that "it was possible to benefit from the wasted sums in establishing new steam generating stations with a capacity of up to 1,000 megawatts, according to the estimated price," noting that "most of the purchase contracts did not include a provision requiring the return of ownership of the investment stations to the Ministry after the expiration of the period contract and recover the amounts for its establishment.
He added, "The Ministry of Electricity granted sovereign guarantees for investment contracts with huge amounts of money that exceed the costs of establishing investment stations, as the values of the sovereign guarantees for investment companies amounted to the equivalent of 33 billion and 508 million dollars, at a time when the Ministry of Electricity and the Department of Contracts and Investments had to express an opinion on these guarantees before issuing them." , and adjusting their amounts in accordance with the interest of the Ministry, and then canceling them after the investment companies recover the amounts for the establishment of these stations,” explaining that “the lack of financial allocations and financing is one of the most important problems that stand in the way of the Investments and Contracts Department in the Ministry of Electricity carrying out its tasks, as it bears the negative impacts emergency in equipment The project is like aging or changing technology, as a result of stopping large projects such as production and transportation stations, which leads to changing equipment or plans and thus charging them with additional costs and time, in addition to increasing indebtedness, as the ministry bears additional sums forThe interest of those debts, and the non-payment of the companies' dues, which forces them to terminate the contracts, and the ministry incurs the costs."
The report touched on the obstacles to the work of the Investments Department, "as it is represented in the overlapping of the work of the ministries and the lack of coordination with the Ministry of Electricity, including the impact of water scarcity on the work of steam and hydroelectric stations, which requires the Ministry of Water Resources to cancel projects or change the priorities of other projects.
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