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Iraq is wasting nearly a billion dollars on energy it did not receive and stations it does not possess
Iraq 2023/08/17
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Baghdad: Rula Wathiq and Shaima Rashid .
According to information from the Bureau of Oversight to “Al-Sabah”, “The Bureau’s report 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 shortage or lack of tolerance of transmission lines.
The Bureau’s report stated that “it was possible to benefit from the wasted sums in establishing new steam generation plants 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 the contract and recover the amounts for its establishment.
He added that “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 on equipment The project, such as obsolescence or a change in 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 amounts for the interest of those debts, and notPaying the companies’ dues, forcing them to terminate the contracts and incurring the Ministry’s 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, in addition to the lack of commitment of the Ministry of Oil With the fuel plan in the supply of electricity, as well as the amounts of opening and strengthening documentary credits, which amount to 636 million dollars, which were not compensated by the Ministry of Finance for the years (2012-2019).
This comes at a time when Iraq is preparing to put forward renewable energy investment after Parliament finished the first reading of the draft law regulating renewable energy, in an effort to produce electricity and introduce it into the electrical system in order to reduce dependence on gas stations.
Member of the Electricity Committee and Chairman of the Sub-Committee for Renewable Energy, Aman Sheriki, said in an interview with “Al-Sabah”: “The government has signed contracts with French international companies, which are Total and the Chinese company ABC, which means that the lands have been allocated, and there is only time left for these companies to come to invest.” He added, “The committee asked the government for complete information about renewable energy contracts to monitor work, as some of them will enter into force within two months. As for the contract with the Chinese company and the Al-Bilal Company, it stipulates that each company must provide 75 megawatts to each company within a year after implementation, according to the conditions.” .
And the deputy continued, “These projects will produce 7,700 megawatts,” noting that “some companies will start, and there are companies that are still suffering from problems, including the allocation of land or problems with other ministries, and we expect the introduction of 1,500 megawatts this year and next year from local investors only,” noting that “all of these The projects, if implemented, may raise the network by about 9,300 megawatts, which will be linked to the national system through a specialized company in cooperation with the Ministry of Electricity.
Edited by: Ali Abdel-Khalek
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