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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Exciting details about wasting a billion dollars in the electricity file

    Rocky
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    • Post n°1

    Exciting details about wasting a billion dollars in the electricity file Empty Exciting details about wasting a billion dollars in the electricity file

    Post by Rocky Sat 19 Aug 2023, 5:12 am

    [rtl]Exciting details about wasting a billion dollars in the electricity file[/rtl]

    policy  ,  2023/08/19 10:03  , the number of readings: 126 
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    [rtl]Baghdad-Iraq today:

    At a time when the electricity sector in Iraq suffers from a deficit of 13,000 megawatts, monitoring reports revealed that nearly a billion dollars was spent on government contracts that the citizen did not benefit from.[/rtl]
    [rtl]At the end of December 2022, the Ministry of Finance, through the Federal Office of Financial Supervision Department, began auditing the contract data of the Ministry of Electricity; In implementation of the directives of the Council of Ministers, headed by Muhammad Shia Al-Sudani.[/rtl]
    [rtl]After about 6 months of scrutiny and review, the Supervision Bureau concluded, in a report issued last June, that the Ministry of Electricity in Iraq bears large sums of money as a result of its purchase by the (take or pay) method, which obliges the ministry to pay sums for unreceived energy regardless. Considering any emergency, whether fuel shortage or lack of transmission lines.[/rtl]
    [rtl]The report revealed that what has been spent on electricity not actually received is approximately $937 million for the years (2017-2022).[/rtl]
    [rtl] The Sudanese government disavows [/rtl]
    [rtl]

    For its part, the Iraqi Ministry of Electricity issued a statement; To respond to the report of the Federal Supervision Bureau, regarding the waste of funds and investment contracts related to energy purchase.[/rtl]
    [rtl]The Ministry of Electricity in Iraq stated that the Bureau's report refers to the energy sale and purchase contracts signed with investment companies (Take or Pay), and these contracts were signed during the years (2014, 2015 and 2016) and with decisions issued by previous governments, and the approval of the Ministerial Energy Council at that time.[/rtl]
    [rtl]The statement confirmed that the current government, since its inception, and under the guidance of the Prime Minister, Eng. Muhammad Shia'a al-Sudanese, has begun to review these contracts, and to form a committee headed by the Minister of Electricity, Eng. state and public money.[/rtl]
    [rtl]The formed committee held several meetings. to take the necessary recommendations; The Ministry affirms that it works with transparency and clarity, and that all its doors and formations are open to the oversight, parliamentary and judicial authorities to review previous and current contracts, and support their efforts to monitor government performance and preserve public money.[/rtl]
    [rtl]The report of the Supervision Bureau confirmed that the Ministry of Electricity in Iraq bears large sums of money as a result of the purchase in a way that obliges the Ministry to pay sums for electricity that has not been received, regardless of any emergency circumstance, whether fuel shortage or failure to withstand transmission lines.[/rtl]
    [rtl]The report indicated that what was spent on energy that was not actually received was close to $1 billion, during the period from 2017 to 2022, pointing out that most of the purchase contracts contracts did not include a provision stipulating the return of ownership of the investment to the Ministry after the end of the contract period and the recovery of the construction funds.[/rtl]
    [rtl]The Bureau's report stated that the wasted amounts could have been used to construct new power plants with a capacity of up to 1,000 megawatts, according to their estimated price.[/rtl]
    [rtl]The report indicated that the Ministry of Electricity in Iraq granted sovereign guarantees for investment contracts with huge sums of money that exceed the costs of establishing investment stations. As the values ​​of sovereign guarantees for investment companies amounted to the equivalent of 33 billion and 508 million dollars.[/rtl]
    [rtl]The report stressed that the Ministry of Electricity and the Department of Contracts and Investments had to express an opinion on these guarantees before issuing them, adjust their amounts in accordance with the interest of the ministry, and then cancel them after the investment companies recovered the amounts for the construction of these stations.[/rtl]
    [rtl] Electricity deficit in Iraq [/rtl]
    [rtl]The revelation that one billion dollars was used in the projects of the Ministry of Electricity in Iraq comes at a time when the country suffers from a shortage of more than 50% of the total production of stations at present.[/rtl]
    [rtl]The total electricity deficit in Iraq amounts to about 13 thousand megawatts, while the total production reaches about 24 thousand megawatts, according to what was monitored by the specialized energy platform.[/rtl]
    [rtl]During the past 6 months, the Iraqi Ministry of Electricity succeeded in increasing the production rate by about 4,000 megawatts. What worked to increase the rate of electricity supply (hours of maintenance of the current) increased among many Iraqis by rates exceeding 26% in a number of governorates, and 36% for others.[/rtl]
    [rtl]The Minister of Electricity, Ziyad Fadel, confirmed that the contracts signed by the current government with the German companies Siemens and the American General Electric were in order to maintain the fleet of power stations in Iraq for the next 5 years and benefit from the sums spent during the years of their establishment.[/rtl]
    [rtl]He said, in previous statements: "It is not reasonable to spend money to establish power stations, and currently they operate only at 30% or 40% of their capacity," explaining that his ministry's plan aims to benefit from these units at their full. capacity with the same quantities of fuel, which allows raising the production ceiling.[/rtl]
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