Ramos personally pushed for the speedy approval of some of the most expensive power deals, and justified signing more contracts despite warnings from within the government and the World Bank that an impending oversupply of electricity could push up prices, a situation that persists in the Philippines up to the present. Individuals linked to Ramos lobbied for the approval of some of the contracts for independent power producers (IPPs), which came with numerous other deals, including lucrative legal, technical, and financial consultancies that were given to individuals and companies close to the former president. Among the deals tied to IPP projects were insurance contracts in which companies made millions of dollars in commissions alone. All the IPP contracts came with attractive incentives and guarantees. Every contract was designed to give IPP creditors some degree of comfort in financing ventures that would usually involve huge capital and risks. Most IPPs were funded by foreign loans secured with a form of government guarantee or performance undertaking, which meant that the Philippine government would pay for the loans if the IPPs defaulted. The Ramos government continued signing IPP contracts even after the power crisis had been considered solved by the end of 1993. The World Bank came up with a report in 1994 warning that power rates may rise if the government continued to enter into more IPP contracts that would mean excess power. The World Bank questioned the ambitious projections of the government on economic growth and power demand from 1994 to 1998. It also warned that the power generated by private utilities' IPPs could duplicate those of the National Power Corporation and create an overcapacity. The World Bank said that the factors create considerable uncertainty in power demand, like substantial overcapacity, particularly under take-or-pay conditions, would require considerable tariff increases that would be unpopular with the public. It was said that, presidents since Corazon Aquino catered mostly to the needs of big business for power and allowed the private sector to profit from this lucrative industry rather than craft an energy plan that would meet the needs of the Filipinos.