This report aims to 1) understand whateconomical, political or contractual events affecting powerprojects in a region or a specific country led to projectdistress; and 2) establish how they affected the variousprivate power projects. The report describes and analyzesthe trends in private participation in the electric powersector in developing countries over the 1984-2003 period.The analysis is based on the survey of 63 electricityprojects under stress. It identifies the most significantcauses of stress, describes the most frequent stress factorsand their combination in "stress patterns," andpresents the consequences of the stress patterns on powerprojects. Beyond the presentation of stress patterns, thereport provides insights in the relationship between powersector reforms, privatization of power utilities andsuccess/failure of private power projects.