German towns plan to sell power utilities

Article Abstract:

Increasing competition and deregulation of the German energy market is expected to force many of the country's 900-plus publicly-owned municipal utilities, the Stadtwerke, to find private sector partners. The New Energy Law, which theoretically allows all customers to choose their electricity providers, could remove the advantages to regional governments of owning their utilities. The city of Leipzig sold 40% of its utility Stadtwerke Leipzig to VEW subsidiary MEAG for $237 million in May 1998. Other possible sales include the disposal of Baden Wuerttemberg's 25% stake in EnBW and Hamburg Landesbank's 25% stake in HEW.

Germany, Energy policy, Deregulation, Government business enterprises, Public enterprises

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Brazil pushing ahead with power sales

Article Abstract:

Considerable progress is being made in Brazil with sales in the power sector. Power concern COPEL has had its 8.27% preferred stake held by Parana state government sold in an auction on the Rio de Janeiro stock exchange, for example, while 10 proposals have been submitted for the role of adviser in the sale of Companhia Paulista de Forca e Luz, the Sao Paulo utility. Financial advisers are also being invited to bid for work on the sale of power concern CEEE, which is set to take place in Oct 1997.

Planning, Brazil, Securities, Energy industries, Energy industry, COPEL, Companhia Paulista de Forca e Luz, CEEE

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Plans afoot for Chilean state power utility Colbun

Article Abstract:

The Chilean government is set to sell off its controlling 37.5% stake in power utility Colbun Machicura, the last large Chilean power concern still owned by the state. Colbun is currently operating an investment programme worth more than $400 million, and its purchaser will be expected to provide extensive funding. It has generating capacity of around 500 MW, and its stock market value is just under $1 billion.

Chile, Colbun Machicura

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