In the 1990's, fundamental power sector restructuring swept developing countries around the world, starting with private sector participation in public utilities (e.g. Build-Operate-Transfer modalities) and ending with outright privatization. At each step the heavy hand of the World Bank and the Asian Development Bank guided the governments. This paper points to the growing evidence that the ADB and the World Bank-supported power restructuring policies resulting in higher electricity prices for consumers, greater probability of private market power in the sector, less environmental protection, less consumer protection, and legitimating of wrong policies and corruption. The was presented at the Privatization of Infrastructure Seminar held 5-6 January 2003 in Hyderabad, India as part of the Asian Social Forum
