Power Revolution — A New Way Forward in the Global Power Sector
December 8, 2020 | < 1 Minute ReadIn this article, Matthew S. Mendis and Edward Hoyt argue that the time has arrived for an electric power revolution in lower and middle income countries, requiring far-sighted leadership, international coordination, data-driven solutions, and public support.
This post originally appeared on Devex.
The COVID-19 pandemic that has overwhelmed health care systems around the world has also exposed significant weaknesses in another essential element of economic and social development: the global power sector.
Dramatic swings in daily electricity demands as countries impose and rescind pandemic lockdowns, and the subsequent economic damage to governments and public utilities, are putting unprecedented strains on many power providers.
The challenge is particularly acute in low- and middle-income countries, where power providers are generally government-owned, operating on thin or negative financial margins, offering below-cost tariffs for low-income residential consumers, and frequently saddled with capacity charges or onerous take-or-pay contracts for power supply … Read the full blog post on Devex.
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About Matthew Mendis
Matthew S. Mendis is a clean energy, environment, and finance expert with more than 35 years of experience in more than 45 developing countries. Initially, Matthew spent 10 years of his career at the World Bank, including pioneering innovative financing mechanisms for small-scale energy efficiency and renewable energy initiatives. Subsequently, he founded and grew Alternative…
About Edward Hoyt
Edward Hoyt is the Senior Global Practice Lead for Chemonics’ Sustainable Energy Transition team. Prior to joining Chemonics, Edward was a principal consultant with Abt Associates and Nexant, and earlier was a co-founder of Econergy, a diversified clean energy company publicly traded on London’s Alternative Investment Market. He is an economist with more than 25…
