Australia to head huge electricity and internet project in PNG
SIDNEY -
Australia will lead a new multi-billion-dollar electricity and internet rollout in Papua New Guinea.
The Australian newspaper reported New Zealand the US, Japan and South Korea are supporting the project, which will be PNG's largest ever development investment.
The project will deliver internet to 70 percent of PNG and improve access to power.
Both China and the US are also expected to announce new investments in the region at the APEC summit this week.
Beijing will announce new mining and energy investments in PNG, and two Confucius Insitutes to be housed at PNG universities.
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WASHINGTON - By Bernard L. Weinstein
Electricity used to be boring. Public utilities that provided power to homes and businesses were regulated monopolies and, by law, guaranteed a fixed rate-of-return on their generation, transmission, and distribution assets. Prices per kilowatt-hour were set by utility commissions after lengthy testimony from power companies, wanting higher rates, and consumer groups, wanting lower rates.
About 25 years ago, the electricity landscape started to change as economists and others argued that competition could lead to lower prices and stronger grid reliability. Opponents of competition argued that consumers weren’t knowledgeable enough about power markets to make intelligent choices…
