In early 1996, the Privatization Committee for the Water
& Electricity Sector (PCWES) was formed. In addition
to restructuring the industry, the Privatization of
the Water & Electricity Sector of Abu Dhabi was
to accomplish the following principle goals and objectives:
- To
provide secure, safe, and reliable supplies of water
and electricity;
- To
recover lost economic efficiencies;
- To
improve customer services and reduce costs to consumers;
- To
encourage private sector investment;
- To
develop employment opportunities for UAE nationals;
and
- To
maximize returns from the sale of existing government
owned assets.
The
Privatization Committee’s activities involved
the extensive use of consultants to prepare recommendations
for the restructuring of the existing sector, formulate
plans for the implementation of the privatization
activities, and recommend legislation to accomplish
the legal aspects of the privatization of the sector.
Following
nearly two years of effort by the Privatization Committee,
the Government of the Emirate of Abu Dhabi approved
legislation (Law No. 2 of 1998), establishing the
Abu Dhabi Water & Electricity Authority (ADWEA).
By virtue of an Emiri Decree issued at the same time,
the Board of Management of ADWEA was formed under
the chairmanship of H.H. Sheikh Diab bin Zayed Al
Nahyan.
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