Employment Performance Contract Sample Template Page 5
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12This document has been prepared for the purposes of the
PPP IN INFRASTRUCTURE RESOURCE CENTER FOR CONTRACTS, LAWS AND REGULATIONS (PPPIRC)
website. It is a sample document FOR REFERENCE PURPOSES ONLY and SHOULD NOT BE used as a "model".
The inclusion of any legal materials on the PPPIRC website does not mean that they are in any way approved,
endorsed or recommended by the World Bank Group or its affiliates. Legal advice should be sought to determine
whether a particular legal document is appropriate for any given project, and how the specific terms of the document
should be adapted to fit the circumstances of that project
(c)
financially restructure itself to achieve an appropriate balance between fixed and
liquid assets;
(d)
improve financial performance as measured by:
operating costs per MWhr;
debt service (relative to debt obligations) as a percentage (%) of debt obligations; and,
improvement of both current assets to current liabilities and debt to equity ratios,
respectively;
(e)
improve availability and reduce cost of electricity supply to UTILITY by:
reducing power outages to internationally acceptable standards; and,
enhancing capacity availability for hydro, geothermal and petroleum oil based plants
to match internationally acceptable standards.
4.3
Services and Future Generation Capacity Expansion:
4.3.1
With the liberalization of the commercial generation of electricity in the country, Power
Company's market share of electricity production will gradually decline as more and more
independent power producers (IPPs) are licensed to generate electricity for sale to UTILITY
through power purchase agreements (PPAs).
4.3.2
Power Company will have to compete with IPPs for new generation capacity, excluding
future hydro power generation from multipurpose schemes, which will be put to open tender for
development under international competitive bidding procedures (ICBP). No preference will
therefore be given to Power Company in awarding power generation projects which will be
selected for implementation from time to time in the future, on the basis of the least cost criteria.
ARTICLE 5: ASSESSMENT OF POWER COMPANY'S PERFORMANCE
5.1
Performance Targets
The performance of Power Company shall be measured by its success in meeting or surpassing a
set of performance targets, which are set out in Table 1. For the purpose of assessing the overall
performance of Power Company, these targets have been assigned weights and consolidated in
order to give an aggregate weighted indicator.
5.2
Methodology for Assessing Power Company's Performance Indicators
(a)
Ratio of debt service as a percentage of debts due:
PPP in Infrastructure Resource Center for Contracts, Laws and Regulations (PPPIRC)
Reviewed: Victoria R. Delmon, LEGPS
February 2008
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