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MESSAGE FROM THE CHAIRMAN
 Our
country lived the last 10 years with economic disasters resulting
from political instability caused by non-managing democracy. The
encouraging transformation and restructuring in economy which started
in 1983 had been diverted by populist approaches of ruling coalition
governments since 1991 and three successive economic crises in 1994,
1999 and 2001 took place. The Economy Management which took office
after February 2001 crisis, started, with their "Transition
to the Strong Economy" program, some very serious, essential
and revolutionary applications in many fields like public banking
system which had been deserted for many years. Foundation of independent
regulatory institutions like BDDK, KİK, EPDK, TUK, RK is an extremely
important step towards liberalization of economy and integration
with contemporary global economy. However, resulting problems in
daily life of people particularly in the first year of the program
and insufficiency in explanation of the program to the public, caused
a very high toll to the ruling 3 party coalition government and
resulted in disappearance of these 3 parties from political arena
in November 2002 early parliamentary elections. November 2002 early
parliamentary election is a very important milestone in our democracy
history. A Parliament with only 2 parties resulted after 50 years
since we started multi-parties democracy. As a matter of fact the
ruling party has a majority of 2/3.
I read this as a very important and historical opportunity for
our country. The government must continue the economic program which
has been started by previous government with remarkable determination
and approach without any sacrifice. This is our last chance for
"reaching the contemporary civilization level" which was
revealed to us by great leader Atatürk, the founder of our Republic.
The cynical appearance and discussions against regulatory institutions,
particularly Public Procurement Authority, since 6 months period
after elections should be avoided.
One of the components of economic program that is revolutionary
for our sector is Electrical Market Law (Law No.4628) and Energy
Market Regulatory Authority (EPDK) established by this Law. Electrical
energy which was treated as a strategic good/service and handled
by the state monopoly or concessionary private enterprises, transformed
by this Law into a commodity/service which can be produced and traded
freely as in modern countries. The proposed system is a market composed
of bilateral agreements, regulated by EPDK, generation, distribution
and trading being done by licensed private companies and financial
settlement being handled by national transmission company (TEİAŞ).
EPDK, although only 1.5 years passed after its foundation, has
performed very important and sacrificing. Regulations and other
guidelines in compliance with the Law are almost completed. Currently,
the most important phase of starting the operation of market, the
licensing is going on.
In accordance with the Law, TEAŞ (Turkish Electricity Generation
and Transmission Company) split into three different companies;
TEİAŞ (Turkish Electricity Transmission Company), EÜAŞ (Turkish
Electricity Generation Company) and TETAŞ (Turkish Electricity Contracting
and Trading Company). TEİAŞ, as I mentioned above, will stay as
a public company that will handle transmission, financial settlement
and balancing as the national transmission company. EÜAŞ and TETAŞ
should be privatized in the short term. EÜAŞ has been licensed by
EPDK for all of their power plants for a period of 10 years. TETAŞ
has been given Bulk Sales License for 7 years. The generation and
trading legs of competitive market are expected to be formed in
the soonest possible time by these companies by getting rid of costs
(long term agreements with guarantees, unfeasible investments) due
to wrong policies and strategies of the past.
The other important obstacle in front of liberal, transparent and
competitive electrical market is distribution and retail sale services
which are handled by the state 98% (TEDAŞ and subsidiaries). TEDAŞ
and subsidiaries are given distribution and retail sale licenses
for a period of 10 years by EPDK. It is not possible to reduce the
losses and theft, which is 23% in average in Turkey, as long as
distribution networks remain with TEDAŞ. It is extremely beneficial
to privatize it without any delay by applying a proper method. Because,
the losses and theft cost for 1.5 billion dollar each year. We do
not have the luxury to throw away this amount, particularly in the
days we desperately seek for 1 billion dollar loan.
Our company has completed about 80 million dollar worth projects
in its expertise field of contracting and operation of electrical
distribution and transmission facilities. About 20 million dollar
worth projects are currently going on. This means a market share
and reference of 100 million dollar. It is equivalent to 5% of estimated
2 billion dollar worth transmission and distribution contracting
market. Our aim will be to increase this share to 10%.
To serve this aim; we obtained ISO 9001 certificate on 30 April
2002, NATO Certificate on 12 December 2002; we became a member of
İNTES, The Turkish Employers' Association of Construction Industries
on 26 March 2002 and TCA, The Turkish Contractors Association on
1 November 2002; we are doing our best to take a share in the overseas
contracting market; I expect to obtain fruitful outcome within short
time.
Our preparations in obtaining a role in firstly retail sale, finally
distribution fields of above mentioned electrical market are continuing.
We applied to EPDK to obtain retail sale license in the name of
a new company we established for this purpose. We already started
our preparations to participate one or two tenders for privatization
of distribution networks which will come out after determination
of distribution areas and in parallel to privatization process of
the market.
As we have declared as employee of the Company at all levels; I
give great importance to fulfilling our commitments in compliance
with technical, administrative and ethical rules, respecting the
rights and interests of both sides, in all contracts fully sticking
to honesty principle in respect of our market share and competition
power.
Our company which was founded on 4 January 1989, has always maintained
its competition power and continuously increased its market share
despite all unexpected detrimental experiences of its 15 years past.
I believe this trend to continue and expect all company employees
at all level to work with the same belief.
Best Regards,
Mustafa GÜNGÖR
General Manager
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