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Lithuania - Power Rehabilitation Project (Inglês)

Project outcome is rated satisfactory, while project sustainability is highly likely. The performances of the World Bank and the Borrower are rated as satisfactory. The Bank's experience in Lithuania since 1994 suggests a number of lessons which may be relevant to the energy sector reform process in other states. Given strong Government support, enabling good regulation and governance, and payment discipline on the part of budget entities, it is possible for a publicly-owned utility to be successful, well-run and financially robust, and to be a positive player in market reform, while remaining under state control. Structural adjustment operations and project operations, if co-coordinated, are mutually supportive. Reform policies should initially emphasize restructuring rather than privatization. Excessive concentration on privatization as an objective can have negative effects on the reform process, particularly in the early stages: in the case of Lithuania, given the variety of governments which held power, too much emphasis on privatization could have been counter-productive, whereas the benefits of institutional reform, restructuring, unbundling and corporatization could be readily demonstrated and were acceptable to the key players. Achieving improved governance of utilities smoothes the institutional reform process. Good utility governance rests on the clear definition and separation of four pillars: policy, ownership, management and regulation. The Board forms the bridge between the second and third of these, and a Board of individuals chosen for their individual merits, clearly briefed on the shareholders' objectives and working free of ministerial interference can help management to optimize operational performance. Most important of all, an independent, well-resourced regulator put in place at an early stage of the reform process can be a firm bulwark against back-sliding.


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    Conclusão da Implementação e Relatórios sobre Resultados

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    Europa e Ásia Central,

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    Lithuania - Power Rehabilitation Project

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    short period of time;incentives for energy efficiency;net income before tax;Regulation and Competition Policy;power transmission and distribution;transmission and distribution network;quality at entry;institutional development impact;electricity sector;electricity system;thermal power station;principal performance ratings;joint stock company;replacement of equipment;power system;heavy fuel oil;reduction in emission;environmental monitoring system;oil spill prevention;interest during construction;thermal power plant;power sector restructuring;development of methodology;nuclear power station;structure of governance;safety net design;outputs by components;quality assurance group;data transmission system;supply of oil;high energy intensity;optical fiber network;energy price commission;wide area network;area of regulation;public service demand;modern market economy;regional power market;high electricity intensity;competitive electricity market;consumer price index;cost of debt;Energy Sector Reform;condition of effectiveness;transmission system operator;private capital flow;average domestic tariff;currency board arrangement;data transmission service;district heating network;ratings of bank;reallocation of fund;optical cable;reform process;borrower performance;financial statement;high-voltage transmission;environmental performance;electricity transmission;electricity generating;thermal plant;management structure;financial rate;domestic electricity;hydropower plant;state ownership;international agency;financial ratio;power company;privatization program;Fixed Assets;Transition economies;project engineer;financial status;Consulting services;distribution company;transition economy;electricity need;political pressure;debt service;real time;municipal ownership;Public Services;plant reliability;particulate emission;management board;real gdp;base case;load management;regular operations;stranded asset;primary energy;pump storage;operational performance;water pipe;legal entity;energy policies;transition arrangement;financial structure;regulatory independence;microwave links;transmission grid;negative effect;tariff increase;foster competition;market environment;legal entities;clear definition;international expert;western company;impact indicator;commercial issues;political problem;financial staff;electricity price;working capital;local specialists;engineering practice;environmental indicator;loss reduction;foreign consultant;electricity lines;electricity legislation;organizational structure;utility governance;price criterion;economic tariffs;forced sale;environmental issue;distribution loss;transmission loss;financial strength;project costing;baseline cost;sustainability rating;potential demand;producer subsidy;general management;governance arrangement;financial covenant;debt repayment;reform policy;project operation;state control;market reform;payment discipline;electricity sale;treasury function;international interest;positive relationship;short-term debt;political will;civil works;commercial operation;debt obligation;liquidity target;management position;long-term debt;allowable limits;road map;management improvement;corporate planning;procurement assistance;investment cost;telecommunications operator;financial aspect;environmental benefit;loan proceeds;increased investment;fire protection;restructuring program;communications equipment;annual saving;transmission line;power transformers;positive impact;response time;fiber optic;telecommunications company;management consultancy;tendering procedures;national currency;banking sector;market development;regulated transmission;market opening;independent supplier;eligible consumer;production subsidy;net profit;cost control;operational improvement;fuel import;debt profile;accounting standard;circuit breaker;electricity business;transmission network;electricity distribution;private shareholder;national grid;supervisory board;commonly known;energy product;leasing arrangement;internal management



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