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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