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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