Task A : sector performance and structural sector reform - deliverable 4.2 : detailed roadmap for establishing LEMRA

REVISED FINAL REPORT October 2017 Task A: Sector performance and structural sector reform Deliverable 4.2: Detailed roadmap for establishing LEMRA Disclaimer and copyright note This document has been prepared only for the International © 2017 Bank of Reconstruction and Development ("IBRD") and solely PricewaterhouseCoopers for the purpose and on the terms agreed with the IBRD in our LLP agreement dated 21 March 2017 relating to Task A. All rights reserved. In this The scope of our work was limited to a review of documentary document, 'PwC' refers to the evidence made available to us. We have not independently UK member firm, and may verified any information given to us relating to the services. sometimes refer to the PwC network. Each member firm We accept no liability (including for negligence) to anyone else is a separate legal entity. in connection with this document. We have agreed with you that the report will be provided by you to GECOL for their consideration. We would ask that it not be provided to anyone else unless otherwise agreed in writing by us. This is a draft prepared for discussion purposes only and Please see should not be relied upon; the contents are subject to www.pwc.com/structure for amendment or withdrawal and our final conclusions and further details findings will be set out in our final deliverable. Strategy& | PwC 1 The present report focuses on detailing the options for the establishment of the Libyan electricity regulator (LEMRA) Focus of this report 1 2 Rapid assessment 3 4 5 Project Regulatory Restructuring of Project review and of the sector set-up reform key actors recommendation performance 1.1 2.1 Rapid sector 3.1 Gap analysis of the 4.1 5.1 Option study for Findings review and Data collection performance sector structure vs. GECOL restructuring final report assessment previous plan 1.2 3.2 4.2 Methodology, High-level options for Roadmap for team and approach sector reform establishing of LEMRA validation 3.3 Sector restructuring (framework, actors and Focus of roadmap) this report 3.4 Electricity Act 6 Workshop & trainings 7 PMO (progress reporting) Source: Task A inception report Strategy& | PwC 2 To design the establishment of the LEMRA we have focused on 3 dimensions, answering a number of questions Approach for the LEMRA establishment roadmap WHAT HOW WHEN ROLES AND ORGANIZATIONAL ESTABLISHMENT RESPONSIBILITIES STRUCTURE ROADMAP • What is the role of the • Which is the best suited • What are the main steps regulator in the sector? organizational structure for that have to be the Libyan regulator? accomplished for the set up • What are the main of a regulatory entity? responsibilities that the • What kind of leadership is regulatory body has to required for the regulator to • Is a gradual or a more fulfill? be effective? daring approach best suited to the Libyan • How are responsibilities context? allocated among sector institutions? Source: Strategy& analysis Strategy& | PwC 3  Roles and responsibilities Organizational set-up Establishment roadmap Appendix – Benchmarking study Strategy& | PwC 4 The main role of the electricity regulator is to balance the sector stakeholders’ conflicting interests Electricity sector stakeholders’ interests Government Service Suppliers Customers Reluctant to increase tariffs Wiling to charge higher Want to receive a reliable because subject to short prices in order to pursue electricity service at low term political pressure high returns prices Regulator’s aims • Promote long term • Protect consumers from targets of economic and • Support investment by abuse by firms with resource efficiency to protecting suppliers substantial market achieve an affordable from arbitrary power cost of service governmental action • Guarantee reliable • Avoid undue short term • Guarantee adequate service at reasonable political pressure on returns price prices Source: Strategy& analysis Strategy& | PwC 5 The typical role of a regulator can vary from weak advisory to full functional executive… Types of regulatory institution roles Advisory role Executive role Weak advisory Strong advisory Full functional executive Confidential advice to Ministry in Written public advice to the Ministry Final decision authority & charge in charge accountability Secondary legislation Secondary legislation Legal Primary legislation (i.e. presidential or ministerial (i.e. presidential or ministerial mandate (i.e. parliamentary act) decree) decree) Decision Full decision making authority making No decision making authority No decision making authority without need for Ministry approval authority No separate budget (depends solely Separate funding outside the Separate funding outside the Funding on ministry budget) ministry’s budget ministry’s budget Public written decisions with full Public written decisions with full Decisions Decisions might be unwritten or discussion of rationale, supporting discussion of rationale, supporting transparency written but private analysis / evidence analysis / evidence Minister’s policy and Given confidentially to the regulator Given through public document Given through public document directives Public Public consultations with affected Public consultations with affected Little or no public consultation consultations parties parties Source: Strategy& analysis Strategy& | PwC 6 … And its responsibilities are concentrated in 4 areas: supply, customers, technical and sector development issues Regulatory body responsibilities Supply matters Consumers issues Dealing with tariff assessment and their periodic review, Dealing with license issuance, monitoring of license compliance, stakeholders protection, investigating and resolving complaints service providers performance monitoring and improvement by involved parties 1 Licenses 6 Tariff 2 Performance monitoring 7 Consumer protection 8 Disputes settlement Technical issues Sector development Developing technical standards of performance for each Defining public interest, developing of regulations for electrical activity, monitoring and enforcing compliance with the infrastructure expansion, encouraging private sector investments standards 3 Standards and rules 9 Competition 4 Rules enforcement 10 Market development 5 Information 11 Sector structure Source: Strategy& analysis Strategy& | PwC 7 The supply and technical issues involve licensing, setting and enforcing standards and monitoring the sector performance Regulatory body responsibilities • Set the Electricity Market License Regulation Supply matters • Review, approve or reject applications for licenses and grant permits 1 upon collection of the related fees • Monitor licensees’ compliance with their license requirements and 1 Licenses conditions • Develop performance KPIs for sector entities 2 Performance monitoring • Monitor the performance of regulated entities, the functioning of the 2 market, and the maintenance of supply • Supervise security and reliability of the power system and propose performance improvement measures • Set binding minimum technical, safety and service quality standards for regulated entities • Develop unified regulatory accounting and reporting procedures for Technical issues 3 sector entities • Adopt and compel compliance with accounting standards and practices 3 Standards and rules • Draft subsidiary policy for the sector, consistently with primary policy (i.e. government declared policies) 4 Rules enforcement • Fully enforce its decisions, standards, and rules, as well as relevant public policy, either issuing its own order which would be enforced by 5 Information 4 the government in the exercise of its police powers, or through the courts • Compel the production and provision of information as may be 5 necessary to carry out the regulatory functions and serve the interests of transparency Source: Strategy& analysis Strategy& | PwC 8 Customers and sector development deal with users complaints, competition and private investment attraction Regulatory body responsibilities • Draft the tariff regulation setting the principles governing examination, modification and approval Consumers issues • Set tariffs at reasonable levels for both consumers and regulated 6 entities 6 Tariff • Adequately protect consumers from unfair or abusive business practices 7 7 Consumer protection • Examine consumer’s complaints on tariffs, quality of service and billing acting as consumer advocate in public proceedings 8 Disputes settlement • Arbitrate ad adjudicate any dispute that may arise among sector entities and between regulated entities and consumers through out-of- 8 court settlements • Promote competition and impose penalties/sanctions for non compliance with rules of competition, transparency of information and Sector development equal opportunity principles 9 • Encourage private sector participation and investments in the electricity sector 9 Competition • Provide information and act as advisor to the Ministry on matters 10 10 Market development related to sector development (i.e. National Electricity Strategy drafting) 11 Sector structure • Draft unbundling regulation (e.g. accounting unbundling manual with operating guidelines to draft separated accounts, timing and 11 procedures for annual accounts submission) Source: Strategy& analysis Strategy& | PwC 9 The reform roadmap has recommended to set-up an Agency (Wave I) before a fully-functional Authority (Wave II) Evolution of regulatory role Regulator with Regulator with advisory role executive role Weak Strong Full functional No regulator advisory role advisory role executive Confidential advice to the Written public advice to Final decision authority & ministry the ministry accountability Wave I Wave II 2017 2019 2023 Regulatory Agency Regulatory Authority (LEMRA) As-is Provides expert advice on Autonomous, final decision- regulatory decisions to the making authority set Government fulfilling sector Minister of electricity. through primary legislation regulatory duties However, the formal final (Electricity Act) and decision remains with the financed through a Ministry in charge separate budget Source: Strategy& analysis Strategy& | PwC 10 The Agency shall focus on drafting manuals/regulations for performance monitoring, tariff and account unbundling … Regulatory Agency responsibilities (Wave 1) Regulatory Agency 2019 in operation Responsibilities Activities Regulations/Manuals Supply matters KPIs Manual & targets Draft the KPIs Manual and set short term (3 years) KPI targets Performance monitoring Provide incentives to encourage the utility to achieve targets Supervise system’s security and reliability and propose improv. measures Technical matters Develop unified regulatory accounting and reporting procedures Standards and rules Set minimum safety standards for O&M, construction and installation Safety standards Draft the Grid Code/Interconnecting Guidelines Grid Code Consumers issues Draft the Tariff Regulation Tariff Regulation Tariff State criteria for the preparation of tariff proposals by GECOL Sector development Advise the ministry on matters related to development and operation plans Accounting unbundling Market development Draft accounting unbundling regulation regulation Sector structure Draft operating guidelines for separated annual accounts Analyze and review GECOL’s separated annual accounts Source: Strategy& analysis Strategy& | PwC 11 … Advising the Government, who remains in charge of accomplishing all the key regulatory functions Actors redistribution of responsibilities (Wave I) Wave I As-is After Regulatory Agency set up Actors Regulatory Government GECOL Government GECOL Responsibilities Agency Set performance standards R R P Monitor performance R R P Define sector vision R R Determine prices R R R P Choose technologies R R Determine investments R R Establish market rules R R P Receive public input R R R P R Balance environmental and economic goals R R Determine market structure R R P Receive consumer complaints R P R P Full responsibility PAdvisory function Source: Strategy& analysis Strategy& | PwC 12 With Wave 2, the Agency will become an Authority (LEMRA), starting to license and enforce the market rules… Primary responsibilities / tasks (Wave II) Regulatory Authority 2023 in operation Responsibilities Activities Regulations/Manuals Supply matters Set the Electricity Market License Regulation License regulation Grant (and cancel) licenses and collect license fees Licenses Review short term (3 years) KPI targets Performance monitoring Review incentives to encourage the utility to achieve targets Supervise system’s security and reliability and propose improv. measures Establish quality of service standards Service provision manual Technical issues Impose penalties/sanctions for non compliance with rules Standards and rules Information submission Rules enforcement Rules for submission of information to the Authority and availability rules Information Rules for availability of the Authority’s information to the public Start drafting the National Electricity Registry containing full text of National Electricity licenses decisions, codes/standards approved by the BoD, etc. Registry Source: Strategy& analysis Strategy& | PwC 13 …as well as enacting regulations to foster the electricity industry restructuring Primary responsibilities / tasks (Wave II) Regulatory Authority 2023 in operation Responsibilities Activities Regulations/Manuals Consumers issues Review the Tariff Regulation Tariff regulation Tariff Review criteria for the preparation of tariff proposals by GECOL Consumer protection Examine consumer’s complaints, acting as consumer advocate in public proceedings Disputes settlement Arbitrate and adjudicate disputes between licensees and consumers and Disputes resolution rules among licensees through out-of-court settlements Approve/reject/amend regulations for IPP procurement submitted by the Sector development Commission Approve/reject proposals for IPPs submitted by the IPP Commission after Competition close scrutiny during the tendering process Grant concession to the approved winner of the tendering process Market development Advise the Ministry Sector structure Helps the Ministry in drafting the National Electricity Strategy Promote the development of renewable energy Electricity industry Draft the Electricity industry restructuring plan restructuring plan Source: Strategy& analysis Strategy& | PwC 14  Saudi Arabia In Wave 2, LEMRA will draft regulations, standards and rules as in other countries (i.e. ECRA in Saudi Arabia) ECRA’s area of operation & outputs produced SELECTED EXAMPLE Documents Electricity Law Implementing Provides greater detail on the duties, functions and obligations of the Authority and industry participants outlined in the Electricity Act (e.g. tariff setting and review procedure, process of Regulations licensing process and criteria, disputes mediation procedure, etc.) Regula- Constitution of the Authority outlining its objectives, responsibilities, leadership composition, ECRA Charter organizational structure and operating model tions ECRA Charter Implementing Provides greater detail on the duties, functions and obligations of the Authority outlined in the Regulations Charter Levels of regulation Details formulas and methodologies for the computation of KPIs in order to provide a KPI Manual base for consistency among licensees’ KPIs reporting procedure Codes & Targets & Incentives Outlines targets for KPIs related to generation, transmission, distribution and customer Report service determined through international comparisons Standards Describes the audit methodology performed by the Regulator on an annual basis on Audit Manual the underlying processes and data applied by the utility to compute submitted KPI values Defines obligations, responsibilities, minimum technical requirements Saudi Arabian of all parties towards ensuring open, transparent, non-discriminatory Grid Code and economic access and use of the grid while maintaining its safe, reliable and efficient operation Rules and Manuals Indicates procedures for both planning and operational purposes Saudi Arabian covering both normal and exceptional circumstances for various Distribution Code participants access and use of the distribution system Source: ECRA website, Strategy& analysis Strategy& | PwC 15  Saudi Arabia ECRA for example, drafts all the necessary regulations mandated by the Saudi Arabian Electricity Law … Electricity Law Implementing Regulations contents SELECTED EXAMPLE Electricity Law Implementing Regulations Submission and Sets out: Key • requirements for submission of information to the Authority by sector entities provision of Titles • rules for Authority’s disclosure of information to the public through the National Electricity Registry information Outlines: Tariff • tariff review process and the procedure for submission of tariff recommendations by the Authority • reporting requirements for the calculation of the cost of provision of electricity services Defines: Licensing of • electricity activities subject to licensing electricity activities • licensing application process, granting criteria and conditions (i.e. renewal, amendment, suspension, revocation and withdrawal and required fees) Details: Quality of • the quality of service for consumers service • standards and conditions as well as the situations in which service to consumers may be suspended Competition and States: anti-competitive • the definition of anti-competitive practices conduct • remedies for anti-competitive practices, mergers and acquisitions Restructuring of the Defines the content of the Electricity Industry restructuring plan to be prepared by the Authority consistently with the electricity industry National Strategy prepared by the Ministry and in accordance with the requirements of the Electricity Act Disputes and Defines procedures for resolution of: resolutions • consumer disputes (i.e. between a consumer and a licensee) • electricity industry disputes (i.e. between licensees or licensees and large consumers) procedures • disputes relating to the Authority decisions Source: ECRA website, ECRA Electricity Law Implementing Regulations, Strategy& analysis Strategy& | PwC 16  Saudi Arabia … And also leads a program of performance monitoring of the sector entities against a set of specific targets / KPIs KPI Manual contents SELECTED EXAMPLE KPI Manual ECRA has initiated a project to develop Key Performance Indicators for Saudi power sector participants. As part of this project the KPI Report has been produced setting out the recommendations for the computation of KPIs for each value chain activity. The Regulator has established specific KPI targets, against which performance of market participants will be audited each year Generation Transmission Distribution Supply Average time to supply Availability factor SAIDI SAIDI (existing connections) Average time to supply Forced outage factor SAIFI SAIFI (new connections) Average time to reconnect Scheduled outage factor MAIFI MAIFI after payment Equivalent forced outage rate Notification of interruption of Network losses Network losses supply Starting reliability Frequency of complaints Average time to resolve Gross capacity factor billing complaints Average waiting time call Net capacity factor center Source: ECRA website, ECRA KPIs Manual, Strategy& analysis Strategy& | PwC 17 With Wave II, the Government will delegate many of its current responsibilities to LEMRA Actors redistribution of responsibilities — Wave II Wave II As-is After LEMRA establishment Actors Government GECOL Government Regulator GECOL Responsibilities Set performance standards R R Monitor performance R R Define sector vision R R Determine prices R R R Choose technologies R R Determine investments R R Establish market rules R R Receive public input R R R R R Balance environmental and economic goals R R Determine market structure R R P Receive consumer complaints R R R Issue licenses R R Source: Strategy& analysis Responsibilities transferred to other actor P Full responsibility PAdvisory function Strategy& | PwC 18  Roles and responsibilities Organizational set-up Establishment roadmap Appendix – Benchmarking study Strategy& | PwC 19 For the identification of the target organizational set-up, we benchmarked similar countries along 4 dimensions Organizational structure dimensions benchmarked Dimensions International benchmarking 1 SIZE AND COMPLEXITY 2 LEADERSHIP MODEL 3 FUNCTIONAL DEPARTMENTS 4 SUPPORT SERVICES UNITS Source: Strategy& analysis Strategy& | PwC 20 The benchmarking exercise highlighted a number of insights on how regulators are usually set-up Summary of lessons learnt Dimensions Key lessons learned There are streamlined horizontal organizations and more complex 1 SIZE AND COMPLEXITY vertical ones • There are two main types of leadership structure: centralized or delegated 2 LEADERSHIP MODEL • BoD terms of office and renewal are common across countries (3-4 years with 1 term renewal) • Composition varies widely from 5 to 13 members Regulatory organizations are typically split vertically along their 3 FUNCTIONAL DEPARTMENTS key functions which reflect their primary responsibilities HR, General administration, IT, Financial planning and Budgeting 4 SUPPORT SERVICES UNITS are typically centralized within a Support Services unit Source: Strategy& analysis Strategy& | PwC 21  1 Size and complexity Organizational structures of regulators vary from simple / streamlined to complex set-ups Examples of Regulators’ organizational structures SELECTED EXAMPLES Lean Complex Electric Utility and Consumer Electricity Regulatory Commission Protection Regulatory Agency (EUCPRA) (ERC)1 Chairman of BoD BoD BoD Inspection Chaiman’s and Control Office CEO Planning and Control and Org. Internal Audit development Financial Information Admin. of Admin. of Awareness Legal affairs Quality Tariff & administrativ & doc. Supportive Electricity & & customer general Control Unit licensing e & affairs general Services Renewables protection department department department Tariffs and Electricity & Comm. & Technical Audit Financial Renewable Inter. Coop. Section Cost & Consumer Analysis Energy pricing protection Financial Environment Generation & Affairs Tariffs and Public transmission Adm. & HR Safety Section Plan Awareness & Financial Distribution revision mass comm. Analysis IT El. energy Statistics studies License Legal evaluation Renewables Energy conservation 1) Does not include departments not dealing with the electricity sector (Mineral Resources and Affairs, Radiological and Nuclear Affairs, Petroleum and Gas Affairs) Source: Centre for Administrative Innovation in the Euro Mediterranean Region (C.A.I.MED.), Energy and Mineral Resources Commission website, Strategy& analysis Strategy& | PwC 22  2 Leadership model In terms of leadership, there can be delegated or centralized models … Regulatory institutions leadership models Delegated Centralized • Chairman and commissioners are part of a Board of • Individual BoD members have two roles: directors, which concentrates on decision making – Hands-on managerial roles as heads of • Professional and preparatory work and due- individual functional departments diligence effort is done under the supervision of an – Decision making role as directors on board appointed executive director meetings Board of Directors BoD Chairman Executive Commissioner Commissioner Commissioner Commissioner Director Accounting and Management Accounting and Management Technical Legal Technical Legal finance Services finance Services department department department department department department department department Source: Strategy& analysis Strategy& | PwC 23  2 Leadership model …with BoD terms of office usually set for 3-4 years and composition varying from 5 to 13 members Board of Directors characteristics Egypt Jordan Saudi Arabia Ministry of Electricity Reporting to Prime Minister Council of Ministers and Energy Prime Minister’s Decree Council of Ministers upon Council of ministers upon Appointment upon proposal by the Ministry of recommendation of the Prime recommendation of the Minister Electricity and Energy Minister Secretary general of Ministry of Chairman Competent Minister Minister of Water and Electricity Energy and Mineral Resources # years 3 4 3 Terms of office Renewal 1 for a term of equal time 1 for a term of equal time 1 for a term of equal time conditions At least a bachelor in either law, accounting, administration, Qualifications Electricity, legal, economics economics, engineering or finance N/A and 15 years experience or 10 years experience in the electricity sector Number of commissioners 12 5 (fulltime) 13 1 representative for each of the following Ministries: • Electricity company (3 members) • Water and Electricity Represented stakeholders • Consumers (4 members) No required representatives • Finance • Technical experts (3 members) • Petroleum & Mineral Resources • Commerce and Industry • Economy and Planning Source: Centre for Administrative Innovation in the Euro Mediterranean Region (C.A.I.MED.), EMRC website, ECRA website, Strategy& analysis Strategy& | PwC 24  3 Functional departments Functions / divisions are functionally split in accordance with the key responsibilities Typical functional departments Responsibilities Egypt Jordan1 Saudi Arabia Argentina Italy Supply 1 Licenses Tariff and licensing Legal and licensing matters Performance 2 monitoring Service Providers Planning and control Technical Standards Analysis for reg. and Sanctions and 3 and rules Technical affairs special studies penalties issues Rules Appl. & admin. of Accountability and 4 enforcement regulatory standards enforcement Information & doc. 5 Information general dept. PR & Information Consumers Tariff and financial 6 Tariff Tariff and licensing Economics & Tariffs Tariff revision issues analysis Consumer Awareness & Customer 7 Customer care protection customer protection advocacy/protection Disputes 8 settlement Sector 9 Competition development Market Energy infrastructure 10 development Planning and control & unbundling Sector 11 structure Market structure Single Buyer Wholesale market Retail competition Focus on customer protection and Focus on tariff setting enforcement 1) No clear division of responsibilities among organizational units can be determined from Annual report Source: Centre for Administrative Innovation in the Euro Mediterranean Region (C.A.I.MED.), EMRC website, ECRA website, ENRE website, AEEGSI website, Strategy& analysis Strategy& | PwC 25  4 Support services units Typical support services departments are HR, Finance and ICT , generally centralized under one single general manager Typical support services units Support services aggregated under Administrative and Energy and Supportive Services division: Mineral Resources – Communication and International cooperation Commission – Financial affairs (EMRC) – Administration & HR – IT – Legal • Support services grouped under the managament of the Vice Electricity & Governor of Support Services: Cogeneration – Finance Regulatory Authority – HR (ECRA) – Property management – Administrative support • Support services reporting directly to Governor (MD): – IT – PR & Information • Support services aggregated under the Administration Ente Nacional department: Regulador – Heritage & Supply de la Electricidad – Treasury (ENRE) – Accounting – HR – Purchasing & Contracts • Support services reporting directly to Directory: – IT Source: Centre for Administrative Innovation in the Euro Mediterranean Region (C.A.I.MED.), EMRC website, ECRA website, ENRE website, AEEGSI website, Strategy& analysis Strategy& | PwC 26 The reform identified specific responsibilities for the Agency (Wave I) and Authority (Wave II) Regulatory responsibilities evolution Wave I Wave II Regulatory Agency Regulatory Authority Supply matters 1 Licenses 1 Licenses 2 Performance monitoring 2 Performance monitoring Technical 3 Standards and rules 3 Standards and rules issues 4 Rules enforcement 4 Rules enforcement 5 Information 5 Information Consumers 6 Tariff 6 Tariff issues 7 Consumer protection 7 Consumer protection 8 Disputes settlement 8 Disputes settlement Sector 9 Competition 9 Competition development 10 Market development 10 Market development 11 Sector structure 11 Sector structure Source: Strategy& analysis Strategy& | PwC 27 Wave I In line with its limited responsibilities, the Agency shall have a simple and centralized structure with only 3 departments Agency organizational structure Responsibilities Proposed organizational structure (Regulatory Agency – Wave I) Supply matters 1 Licenses Ministry in 2 Performance monitoring charge Government Technical 3 Standards and rules Internal issues audit Chairman 4 Rules enforcement 5 Information Consumers 6 Tariff issues Support Tariff Technical Sector 7 Consumer protection affairs development services head Commissioner Commissioner Commissioner 8 Disputes settlement 6 2 3 10 11 Financial Sector 9 Competition admin. & HR development 10 Market development IT 11 Sector structure Source: Strategy& analysis Strategy& | PwC 28 Wave II With increasing responsibilities, the Regulator will instead assume a more decentralized structure … LEMRA Organizational structure Responsibilities Proposed organizational structure (Regulatory Authority – Wave II) Supply matters 1 Licenses Board of Directors Internal audit Chairman 2 Performance monitoring 5 Public relations Technical 3 Standards and rules issues 4 Rules enforcement Regulatory affairs Stakeholders affairs Support services head Executive Executive 5 Information Commissioner Commissioner Administration Service Consumers 6 Tariff Tariff 6 8 & HR providers issues 7 Consumer protection IT Technical 2 3 4 Customer 7 8 affairs protection 8 Disputes settlement Finance and Development 10 11 9 budget studies 9 Competition Legal & Sector 1 licensing development 10 Market development 11 Sector structure Source: Strategy& analysis Strategy& | PwC 29 Wave II …with a regulator’s stakeholders affairs division that will oversee licensees and monitor service quality… LEMRA Organizational structure — Functional statements Stakeholders affairs Org. unit Activities Internal Chairman audit • Handle documentation for service providers’ rights and obligations Public relations Service • Conduct fair and impartial investigations Providers • Review disputes and claims of violations by service providers against each other Regulatory affairs Stakeholders affairs and against the Authority Support services head Executive Executive Commissioner Commissioner Administration Service Tariff & HR providers Technical Customer IT affairs protection • Investigate consumer complaints and Finance and Development claims of violations by service providers budget studies Customer • Review periodically causes of customers’ Protection complaints and disputes in order to Legal & licensing suggest appropriate rules and procedures to eliminate them Source: Strategy& analysis Strategy& | PwC 30 Wave II …and a regulatory affairs division that will handle both tariff reviews and technical affairs… LEMRA Organizational structure — Functional statements Regulatory affairs Org. unit Activities • Conduct studies on the economics of the Internal audit Chairman electricity industry • Draft studies for tariff reviews Public relations • Review methodologies and procedures for Tariff tariff setting • Develop indicators and incentives for consumers and service providers to Regulatory affairs Stakeholders affairs encourage conservation and reserve Support services head Executive Executive margins Commissioner Commissioner Administration Service Tariff & HR providers • Prepare technical studies dealing with Technical Customer regulating the electricity sector IT affairs protection • Develop rules to insure provision of reliable Finance and Development and efficient services budget studies Technical • Set standards of performance for licenses affairs and overseeing their compliance with Legal & licensing these standards (KPIs) • Establish performance targets and incentivize their achievement by industry participants Source: Strategy& analysis Strategy& | PwC 31 Wave II … as well as performing all necessary development studies and handling of legal & licensing issues LEMRA Organizational structure — Functional statements Regulatory affairs Org. unit Activities • Forecast medium to long-term power system security, stability and reliability Internal audit Chairman • Carry out power studies to enhance competition and find sector development Public relations opportunities Development studies • Advise the Government on development issues • Regulate sector structure evolution (e.g. Regulatory affairs Stakeholders affairs unbundling regulation) Support services head Executive Executive • Estimate new investment projects that Commissioner Commissioner should be implemented in electricity sector Administration Service & HR Tariff providers • Receive applications for authorizations, licenses and exemptions from licensing Technical Customer IT • Oversee compliance of licensees with the affairs protection requirements and conditions of the law and Finance and Development their licenses budget studies Legal & licensing • Prepare contracts and agreements Legal & • Draft and review proposed rules, licensing procedures and standard forms used in the industry • Represent the Authority in litigations and courts Source: Strategy& analysis Strategy& | PwC 32 Wave II LEMRA BoD, in charge of 4-years, may have 5 members of which 2 will be non-executive representatives LEMRA Organizational structure — Board of Directors BoD Composition Number of members 5 Prime Minister Decree upon proposal by the Chairman Appointment Ministry in charge of the electricity sector Terms of Duration 4-years office Renewal 1 term of equal duration At least 4 times a year and upon demand from Meetings Executive Executive Commissioners Commissioner Commissioner • Monitoring of LEMRA management • Ratification of the Authority’s work plan and its operational plans within the framework of the government overall plan • Approval of the Authority’s proposed budget, its closing accounts and annual report prior to their submittal to higher authorities • Approval of received grants, donations • Approval of the Agency’s organizational Commissioner Commissioner Responsibilities structure and of the financial, technical, (GECOL (Consumers administrative and employment regulations representative) Representative) that organize the Agency’s activities • Approval of the regulations/rules/codes/manuals implementing the Electricity Law in matters BoD Chairman & CEO concerning LEMRA’s responsibilities Stakeholder representative Members • Approval of rules for licenses, authorizations Executive Board Members and other services offered by the Authority and determination of the related fees Source: Strategy& analysis Strategy& | PwC 33  Roles and responsibilities Organizational set-up Establishment roadmap Appendix – Benchmarking study Strategy& | PwC 34 The roadmap for the establishment of the Libyan regulator could be summarized in two steps for each wave Roadmap evolution of regulatory body Step / measure Activities Year Wave I Wave II Ambition 2019202020212022202320242025 Owner A Set Establish regulatory agency within the government1 Ministry in regulatory charge agency B Agency in Regulatory agency in operation Regulatory operation Agency C Appointment/Renewal of BoD and budget review Ministry in charge Renewal/termination of key personnel office LEMRA BoD Drafting and approval of LEMRA’s Charter Senior mgmt. team Set up &BoD regulatory authority Review and approval proposed organizational structure Senior mgmt. team &BoD Recruitment to achieve target org. structure Senior mgmt. team & HR head D Authority in Regulatory authority in operation LEMRA operation 2018 2027 2019 2023 Regulatory Regulatory Agency Authority 1) Beside its regulatory functions, this government agency will be in charge for supporting, leading and overseeing the sector reform implementation; Source: Strategy& analysis Strategy& | PwC 35  A Agency set-up PRELIMINARY In Wave 1, by end of 2018, the Gov’t will set-up the Agency and its new mgmt. team will start prepare its operations Regulatory agency setting roadmap Year 2018 2019 Activities Q1 Q2 Q3 Q4 Q1 Owner Appointment of BoD and initial budget allocation Appoint initial BoD members for a 4 years term Government Define and allocate the initial budget Government Recruitment of key personnel Select and appoint consultants/advisors to help in the process Government Select Chairman among BoD members1 Government Select and appoint departments heads BoD and Chairman (e.g. Executive Commissioners) Development and approval of Agency’s 4 years strategic goals Define key goals of the strategic goals/objectives Senior mgmt. team1 Vote and approve strategic goals/objectives BoD Recruitment of technical and support staff Develop basic recruitment criteria Senior mgmt. team & HR head Hire technical and support staff for each org. unit Senior mgmt. team & HR head BoD & chairman selected and in operation Full operating team in place Approved agency statute and [4]-years strategic plan 1) Executive Commissioners; Source: Strategy& analysis Strategy& | PwC 36  B Agency operation PRELIMINARY From 2019 for 4 years, the Agency will then support the Gov’t and draw all the necessary rules & regulations Regulatory agency setting roadmap Year 2018 2019 2020-2023 Activities Q4 Q1 Q2 Q3 Q4 … … Owner Training of technical and support staff Launch staff training programs1 Ex. Commissioners Support in the Electricity Act endorsement process Support Government in legal advisors selection process Senior mgmt. team Support Government in legal framework review Senior mgmt. team Support in the internal Electricity Act endorsement discussions Agency (& advisors) Draft regulations/manuals in line with the Agency’s responsibilities Support in the National Electricity Strategy definition Department in charge Accounting unbundling regulation Department in charge Draft Tariff regulation Department in charge Review KPIs manual & targets Department in charge Safety standards Department in charge Grid code Department in charge Other manuals & regulations2 Department in charge Accounting unbundling regulation published Electricity Act endorsed 1) As an example, during its first 3 years the Saudi Arabian Regulatory Authority (ECRA) began English and IT skills trainings for all staff resources; 2) In line with the Agency 4-years strategic goals & objectives Source: Strategy& analysis Strategy& | PwC 37  C Regulatory Authority set-up PRELIMINARY In 2022 the Gov’t will then spin-off the Agency and the BoD will form the regulator charter and organization LEMRA establishment detailed roadmap Year 2021 2022 2023 Activities Q4 Q1 Q2 Q3 Q4 Q1 Owner Spin-off regulatory agency from government Either confirm Ministry in charge Agency BoD or Appoint BoD and allocate initial budget appoint a new one Ministry in charge Clarify duties/functions/powers of the Authority LEMRA BoD Approve LEMRA’s Charter LEMRA BoD Hire/recruit/confirm key personnel LEMRA BoD Develop LEMRA strategic plan BoD & Chairman Design and approve LEMRA organizational structure LEMRA BoD & CEO Recruit and appoint staff LEMRA CEO & HR Release of Electricity Act LEMRA In operation Source: Strategy& analysis Strategy& | PwC 38  D Regulatory Authority operation PRELIMINARY Starting from 2023, LEMRA will then begin operating as an independent regulatory institution LEMRA establishment detailed roadmap Year 2024+ Activities Q1 Q2 Q3 Q4 Owner Review & approve new tariff Department in charge Draft licensing regulation Department in charge Draft Service Provision Manual Department in charge Draft Information submission and availability rules Department in charge Draft disputes resolution rules Department in charge Update electricity industry restructuring plan for Wave III Department in charge Source: Strategy& analysis Strategy& | PwC 39  D Regulatory Authority operation By 2023, LEMRA will operate on the basis of a series of clear principles, among which independence Core principles Information should be made available to all stakeholders on a timely and Communication accessible basis Participation of stakeholders in meetings promote the exchange of information Consultation and the education of those affected by regulatory decisions The logic, data sources, and legal basis for decisions should be consistent Consistency across market participants and over time A reputation for predictable decisions facilitates planning by suppliers and Predictability customers, and reduces risk as perceived by the investment community The agency should use appropriate instruments in response to changing Flexibility conditions Freedom from undue stakeholder influence promotes public confidence in the Independence regulatory system Focus in next slide Cost effectiveness should be emphasized in data collection and in policies Effectiveness and efficiency implemented by the regulator Regulators should provide clearly defined processes and rationales for Accountability decisions. Appeals procedures need to be specified to provide appropriate checks and balances Transparency The openness of the process to stakeholders promotes legitimacy Source: Strategy& analysis Strategy& | PwC 40  D Regulatory Authority operation The regulator will act independence (impartiality), but continue to respond to the Government (owner of the policy) Regulator independence misconceptions COMMON MISCONCEPTIONS WHAT INDEPENDENCE MEANS Independent regulatory are ministerial entities that do not have to get the Independent regulators are free approval of the prime minister or other from government oversight higher level political authority to raise/lower tariffs Independent regulators are not Regulators are set through primary law, Independence accountable towards other hence are accountable (directly or through institutions the ministry) to the Parliament Independent regulatory entity must Policy development stays with the be given complete authority over all government and policy implementation is policy decisions that affect the delegated to the regulatory body power sector A regulatory entity could be independent Independence is a guarantee of and still become a rogue/corrupted ethical and impartial behavior regulatory body Source: Strategy& analysis Strategy& | PwC 41  D Regulatory Authority operation However, restrictions to Gov’t ability to overrule Regulator’s decisions will be taken (thus guaranteeing its independence) Building blocks of independence Focus in next slides Independent funding Restrictions on post Fixed and staggered terms regulatory employment for BoD commissioners INDEPENDECE Limits on government’s Prohibitions on current ability to remove BoD and future financial ties commissioners and with regulated entities Restrictions on the protection from being sued government’s ability to for performance of official delay or overrule the Regulator decisions Source: Strategy& analysis Strategy& | PwC 42  D Regulatory Authority operation SELECTED EXAMPLES LEMRA will fund its operations through the revenues collected from licensees (same as other regulators)… Example of regulators sources of funding Regulatory Authority for Energy and Mineral Electricity, Gas and Water Resources Commission Revenues Licensees from licensee (AEEGSI) (EMRC) (Mn $) Mn $ 52.0 Mn $ 5.3 CEGCO 100% 100% Central Electricity Generation Company 0.7 NEPCO 1.7 National Electric Power Co. EDC 0.3 Electricity Distribution Company 91% SEPGCO 0.5 94% Samra Electric Power Company IDECO 0.2 Irbid District Electric Company JEPCO 0.9 Jordan Electric Power Company AAEPC 0.3 4% Ammam Asia Electric Power Co. (IPP3) 4% 1% 4% QEPCO 0.3 2013 2013 Al-Quatraneh Power Gen. Co. (IPP2) One time licensee 0.2 Revenues from electricity and gas licensees Revenues from electricity licensees Other revenues Revenues of grants Average revenue per licensee 0.6 Revenues from Water licensees Other revenues Source: EMRC Annual report 2014; AEEGSI Annual report 2014; Strategy& analysis Strategy& | PwC 43  D Regulatory Authority operation SELECTED EXAMPLE … With revenues sufficient to cover the personnel costs, G&A and the expenses for studies and consultations Example of regulatory authority income statement Electricity & Cogeneration Energy and Mineral Regulatory Authority Resources Commission (ECRA) (EMRC) 2013 Mn $ Mn $ 1.3 Total Expenses 32.5 2.1 100% 34% Personnel costs 13.4 1.3 Training expenses 0.7 0.0 53% Studies and 4.6 0.1 consultation 9% 4% Rent 0.0 0.1 Personnel Depreciation & Costs 5.3 0.3 (Mn $) amortization General & Salaries and wages administrative 8.5 0.2 Allowances and bonuses expenses Social security Retirement compensations Source: EMRC Annual report 2014; ECRA Annual report 2014; Strategy& analysis Strategy& | PwC 44  Roles and responsibilities Organizational set-up Establishment roadmap Appendix – Benchmarking study Strategy& | PwC 45  Egypt EgyptERA is set-up through a delegated lean structure with organizational units reflecting its key responsibilities Organizational structure and key information Organizational structure Legal Mandate Presidential Decree BoD Establishment (Decree 326 of 1997 and reorganized Focus in through Decree 339 of 2000) next slide CEO Funding Separate Yes annual budget • Funds allocated from the State Financial Information budget Awareness Legal affairs Tariff & administrativ & doc. • Proceeds from licenses & customer general licensing e & affairs general Sources of issuance/renewal protection department department department income • Proceeds from services rendered to electricity companies users Support services Cost & Consumer • Agency’s fund investment proceeds pricing protection • Donations, contributions and grants CEO Plan Awareness & Prime Minister Decree upon revision mass comm. Appointment suggestion of Competent Minister Terms of Duration 3-years License evaluation office Renewal 1 term of equal duration Determined by Prime Minister Remuneration Decree Source: Strategy& analysis, EgyptERA website, A.R.E. Presidential Decree Law of 2015, Centre for Administrative Innovation in the Euro-Mediterranean Region (C.A.I.M.E.D.) Strategy& | PwC 46  Egypt The BoD is composed of 12 members appointed through Prime Minister’s Decree for a term of 3 years BoD composition and key facts BoD Composition Prime Minister Decree upon proposal by the Appointment Minister of Electricity Ministry of Electricity and Energy and Energy Reporting institution Ministry of Electricity and Energy Terms of Duration 3-years Chairman of the office Renewal 1 term of equal duration Chief executive Competition officer Protection and Anti- Meetings At least once a month and whenever required monopolistic Practices Agency • Approval of Agency’s action plans • Approval of rules required to exercise x3 experts in electricity power activities technical, • Decisions on of concessions, renewal and financial, Chairman of the Consumer monitoring of licenses for projects involving legal areas Protection the generation, transmission, distribution Agency and sale of electricity • Supervision of projects realization • Ratification of procedures for the granting of Responsibilities licenses Chairman of the x3 Electricity Utility • Determination of fees for licenses and other Egyptian representatives Industries Union services rendered by the Agency to third parties • Draft and approval of annual budget • Approval of the Agency’s organizational Chairman of the structure and of the financial, technical, Chambers of Commerce administrative and employment regulations Federation that organize the Agency’s activities • Approval of grants, donations Board Members CEO BoD Chairman Source: Strategy& analysis, EgyptERA website, A.R.E. Presidential Decree Law of 2015, Centre for Administrative Innovation in the Euro-Mediterranean Region (C.A.I.M.E.D.) Strategy& | PwC 47  Saudi Arabia ECRA is organized around 3 divisions: Regulatory Affairs, Consumers and Providers Affairs and Support Services Organizational structure and key information Organizational structure Legal Mandate 125 FTEs1 Support services External Council of Minister decision number 236 IT BoD Establishment Auditor issued on 13th November 2001 PR & Focus in Information next slide Internal Funding Auditing Governor Separate Consultants Yes annual budget Governor‘s • Fees for licenses and authorizations Office issued by the Authority Sources of • Fees charged by the Authority for income services and work offered to third Vice-Governor parties Vice-Governor Vice-Governor Consumers and Service • Revenues from fines Support Services Regulatory affairs Providers Affairs Legal & Service HR Licensing Providers Governor Economics Finance Customer Care Royal Order on recommendation & Tariffs Appointment of the Ministry of Electricity Property Technical Terms of Duration Management Affairs 3-years Administrative office Renewal 1 term of equal duration support Support services Remuneration Council of Ministers decision 1) Source Thomson Reuters does not clarify reference year Source: Strategy& analysis, ECRA website, ECRA Annual report 2015, Charter of the Electricity & Cogeneration Regulatory Authority Strategy& | PwC 48  Saudi Arabia The BoD is composed by 13 members elected upon Government recommendation for a term of 3 years BoD composition and key facts BoD Composition Royal Order on recommendation of the Ministry Appointment Minister of Water and of Electricity Electricity Reporting institution Ministry of Electricity and Water Terms of Duration 3-years (with exception of the Chairman) Governor Representative of office Renewal 1 term of equal duration Ministry of Water and At least 4 times a year and upon demand from Electricity Meetings public stakeholders 5x members appointed by • Monitoring of ECRA’s management Council of • Approval of the Authority’s organization Ministers chart Representative of • Approval of the Authority’s internal, financial the Ministry of and administrative bylaws Representative of Finance • Approval of the regulations implementing the Ministry of Saline Water the Law in matters concerning the Conversion responsibilities of the Authority Corporation Representative of • Approval of technical, environmental and the Ministry of Responsibilities procedural bylaws, rules and standards Petroleum & • Approval of the Authority’s work plan and its Representative of the Mineral operational plans within the framework of Ministry of Economy Resources the government overall plan and Planning • Approval of the Authority’s proposed budget, Representative of the its closing accounts and annual report prior Ministry of Commerce & to their submittal to higher authorities Industry • Approval of rules for licenses, authorizations and other services offered by the Authority Board Members CEO BoD Chairman and determination of the related fees Source: Strategy& analysis, ECRA website, ECRA Annual report 2015, Charter of the Electricity & Cogeneration Regulatory Authority Strategy& | PwC 49  Jordan EMRC has a more centralized organizational structure with the Chairman of the BoD covering also the role of CEO Organizational structure and key information 358 FTEs Organizational structure Legal Mandate in 2014 Chairman of Focus in BoD BoD next slide Establishment General Electricity Law N°64 of 2002 Inspection Chaiman’s and Control Office Planning and Control and Org. Funding Internal Audit development Separate Yes annual budget • Revenues from license fees and Admin. of Admin. of services provided Amounts allocated Quality Supportive Electricity & Mineral from general government budget in Services Control Unit Sources of Renewables Resources case of emergency income • Grants, donations accepted by the Tariffs and Electricity & Comm. & Technical Radiological Board and approved by the Council Financial Renewable Inter. Coop. Audit Section and Nuclear of Ministers Analysis Energy Financial Environ. & Affairs Public Safety Generation, Tariffs Petroleum and Transmission Adm. & HR Gas Chairman of BoD/ CEO Financial Distribution Admin. not Council of Ministers upon Analysis IT dealing with Appointment recommendation of the Prime El. energy Statistics electricity sector1 Minister studies Legal Renewables Terms of Duration 4 years (fulltime) Support services office Energy Renewal 1 term of equal duration conservation Remuneration Council of Ministers 1) Sub-departments not dealing with electricity sector matters are not displayed Source: Strategy& analysis, EMRC website, General Electricity Law N° 64 of 2003, EMRC Annual Report 2014 Strategy& | PwC 50  Jordan There are five BoD members, appointed upon fulfillment of several conditions for one renewable term of 4 years BoD composition and key facts BoD Composition Council of Ministers upon recommendation of Appointment Chief Commissioner and the Prime Minister Chief Executive Officer Reporting institution Prime Minister Terms of Duration 4 years (fulltime) Deputy Chief office Renewal 1 term of equal duration Commissioner Commissioner At least once a month and as necessary Meetings according to circumstances • Approval of licenses • Issuance of the required directives to ensure Commissioner Commissioner that the Commission obtains from the licensees technical and financial data and any other information for the purposes of discharging its functions under the law Board Members BoD Chairman & CEO • Establishment of the methodological basis for computing electric tariffs Responsibilities Requirements for Council members appointment: • Prescription of directives for meters • Hold at least a bachelor degree in law, accounting, inspection and testing administration, economics, engineering or general finance • Establishment of appropriate operating and either a minimum of 15 years experience in the profession codes and safety, security and reliability related in the degree he possesses or a minimum of 10 years standards • Settlement of disputes experience in public or private sector in the fields of generation, • Drafting and preparation of by-laws relating transmission, system operation, supply and distribution to the sector • Does not have a financial interest in any business connected directly or indirectly with the sector • Is not an employee of licensees and has not worked for any of them during the year preceding appointment Source: Strategy& analysis, EMRC website, General Electricity Law N° 64 of 2003, EMRC Annual Report 2014 Strategy& | PwC 51  Argentina ENRE‘s units dealing with customer issues and technical matters report directly to the BoD Organizational structure and key information Organizational structure Legal Mandate Law N° 24.065 under the scope of the Focus in Ministry of Energy and the Ministry of next slide BoD Establishment Federal Planning, Public Investment Secretariat of and National Services Internal audit directory Institutional Funding Legal relations Separate Yes annual budget Application Administra- and adm. of Planning & • Revenues arising from collection of IT tion regulatory control the inspection and control duties standards Sources of paid by the Wholesale Electricity income Market Agents (electricity Heritage Communication generators, transmitters and Generation & Supply & networks Tariff revision distributors) Treasury R&D Transmission Accounting Tech. support Distribution Analysis for Chairman of BoD/ CEO reg. and Attention to special Secretary of Energy after HR Security Appointment users studies selection from public job offering Purchasing & contracting Public and Terms of Duration 5 years Support services environment office Renewal Indefinitely protection Remuneration N/A Source: Strategy& analysis, ENRE website Strategy& | PwC 52  Argentina There are five BoD members, appointed with the term of 5 years renewable indefinitely BoD composition and key facts BoD Composition Appointment of the Presindent and Vice President president based on public job offering with requirements being an economist or engineer. Final selection was based on interviews Appointment conducted by a private consulting firm (shortlisting 3 among which the Secretary of Vice-president Commissioner Energy would choose the President and Vice president) Energy Secretariat under the Ministry of Reporting institution Federal Planning, Public Investment and Services Terms of Duration 5 years office Renewal Indefinitely Commissioner Commissioner Meetings Board Members BoD Chairman & CEO Responsibilities N/A Source: Strategy& analysis, ENRE website Strategy& | PwC 53  Italy AEEGSI org. structure displays many units dealing with customer advocacy, protection and complaints Organizational structure and key information 202 FTEs Organizational structure Legal Mandate in 2016 Focus in next slide BoD Board of Ethics Auditors committee Establishment Law 481 of 14th November Strategic Legal Control advisers Energy General Environment Funding Division Secretariat Division Separate Retail market & Yes annual budget consumers PR Water Systems protection Energy Accountability and Environmental infrastructure & enforcement services customer Sources of • Annual contributions paid by the unbundling protection income market operators Institutional and Wholesale market & external relations Environmental environmental Services (Heat) sustainability General Affairs and Resources EU regulation Customer General Secretary and Divisions’ Heads advocacy/protection Appointment BoD Sanctions and penalties Terms of Duration N/A Legal office Renewal N/A Remuneration N/A Source: Strategy& analysis, Italian Regulatory Authority for Electricity and Gas website, AEEGSI Annual report 2017 Strategy& | PwC 54  Italy There are five BoD members, appointed with the term of 7 years fulltime and they meet weekly and upon request BoD composition and key facts BoD Composition President of the Republic following qualified majority vote of 2/3 of members of both Chairman Appointment chambers of the Parliament on the Ministry of Economic Development proposal Reporting institution Commissioner 7 years fulltime (BoD members can not Commissioner Terms of Duration exercise any other working activity while in office office) Renewal Not renewable Meetings Weekly and upon request Commissioner Commissioner Board Members BoD Chairman & CEO Responsibilities N/A Source: Strategy& analysis, Italian Regulatory Authority for Electricity and Gas website, AEEGSI Annual report 2017 Strategy& | PwC 55 BoD members usually are ex executives of the sector players or government members BoD members experience Egypt Saudi Arabia Chairman Minister of Electricity and Energy Minister of Water and Electricity 1. Ex. EEHC Board Member for G, T and D Companies 1. Governor of ECRA & Deputy Chair of the Board Affairs 2. Vice-Governor for Planning & Development of the 2. Ex. EEHC Chairman Saline Water Conversion Corporation 3. EEHC Chairman 3. Chair of the Saudi ABB Co. Board 4. AUC University Faculty Member, Chairman of Finbi 4. Deputy Minister for Planning & Development of Group Ministry of Water & Electricity 5. Ex. EEHC Board Member for Financial and 5. Executive Director of Educational & IT Projects Co. Administrational Affairs 6. Deputy Minister for Central Services of the Ministry of 6. Head of EE Unit at the Council of Ministers Finance 7. Ex. Minister of Utilities 7. Senior Vice-President for Technology and Operations Members 8. Law Professor at Cairo University Group at Saudi Telecom Co. 9. Physics Professor at the AUC University 8. Assistant Deputy for Follow-up and Information od 10. Agent Federation Of Egyptian Industries the Ministry of Economy & Planning 9. College of the Engineering King Saud University 10. Director, Gas Supplies and Pricing Department Ministry of Petroleum & Mineral Resources 11. CEO of Southern Region Cement Co. 12. Director General, Industrial Cities and Technology Zones Authority (Representing the Ministry of Commerce and Industry) Strategy& | PwC 56