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Power Utility Re-regulation in East European and CIS Transformation Countries (1990-1999): An Institutional Interpretation

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  • Christian von Hirschhausen
  • Petra Opitz

Abstract

This paper analyzes the process of power utility re-regulation in Eastern Europe and the CIS during the decade of systemic transformation (1990-1999); in particular, it explores reasons why early attempts to introduce competition-oriented reform models have not succeeded. We discuss advantages and disadvantages of various reform models from an institutional economic perspective. The approaches to and results of power sector reform in Eastern Europe are assessed; quantitative indicators are wholesale and retail prices, cost coverage ratios, investment levels, and the degree of unbundling and privatization. The paper concludes that a gradual approach to reforms may have been appropriate for the first years of systemic transformation, but that today, ten years later, there is no reason to delay market-oriented reforms any longer.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.38636.de/dp246.pdf
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Bibliographic Info

Paper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 246.

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Length: 25 p.
Date of creation: 2001
Date of revision:
Handle: RePEc:diw:diwwpp:dp246

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Keywords: Power sector; institutions; transition; Eastern Europe;

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References

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  1. I. Lewington, 1997. "Framework Options for Electricity Utilities in Transition Economies: Attempting a Systematic Approach," CERT Discussion Papers, Centre for Economic Reform and Transformation, Heriot Watt University 9708, Centre for Economic Reform and Transformation, Heriot Watt University.
  2. Mark Armstrong & John Vickers, 1996. "Regulatory reform in telecommunications in Central and Eastern Europe," The Economics of Transition, The European Bank for Reconstruction and Development, The European Bank for Reconstruction and Development, vol. 4(2), pages 295-318, October.
  3. Helene Ryding, 1998. "Electricity Restructuring in Ukraine: Illusions of Power in the Power Industry?," CERT Discussion Papers, Centre for Economic Reform and Transformation, Heriot Watt University 9803, Centre for Economic Reform and Transformation, Heriot Watt University.
  4. Paul L. Joskow, 1997. "Restructuring, Competition and Regulatory Reform in the U.S. Electricity Sector," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 11(3), pages 119-138, Summer.
  5. Jon Stern, 1994. "Economic regulation in Central and Eastern Europe 1," The Economics of Transition, The European Bank for Reconstruction and Development, The European Bank for Reconstruction and Development, vol. 2(3), pages 391-398, 09.
  6. Glachant, Jean-Michel, 1998. "England's wholesale electricity market: could this hybrid institutional arrangement be transposed to the European Union?1," Utilities Policy, Elsevier, Elsevier, vol. 7(2), pages 63-74, June.
  7. Spiller, Pablo T, 1996. "Institutions and Commitment," Industrial and Corporate Change, Oxford University Press, vol. 5(2), pages 421-52.
  8. Joskow, Paul L, 1996. "Introducing Competition into Regulated Network Industries: From Hierarchies to Markets in Electricity," Industrial and Corporate Change, Oxford University Press, vol. 5(2), pages 341-82.
  9. David M. Newbery, 1994. "Restructuring and privatizing electric utilities in Eastern Europe," The Economics of Transition, The European Bank for Reconstruction and Development, The European Bank for Reconstruction and Development, vol. 2(3), pages 291-316, 09.
  10. Lars Kumkar, 1999. "Alternative Liberalisierungsmodelle für die Stromwirtschaft: Eine komparative Institutionenanalyse," Kiel Working Papers 928, Kiel Institute for the World Economy.
  11. Frank Bickenbach & Lars Kumkar & Rüdiger Soltwedel, 1999. "The New Institutional Economics of Antitrust and Regulation," Kiel Working Papers 961, Kiel Institute for the World Economy.
  12. von Hirschhausen, Christian & Engerer, Hella, 1998. "Post-Soviet gas sector restructuring in the CIS: a political economy approach," Energy Policy, Elsevier, Elsevier, vol. 26(15), pages 1113-1123, December.
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Citations

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Cited by:
  1. Russell Pittman, 2003. "Vertical Restructuring (or Not) of the Infrastructure Sectors of Transition Economies," Journal of Industry, Competition and Trade, Springer, Springer, vol. 3(1), pages 5-26, March.
  2. Zhang, Yingang & Parker, David & Kirkpatrick, Colin, 2004. "Competition, Regulation and Privatisation of Electricity Generation in Developing Countries: Does the Sequencing of the Reforms Matter?," Centre on Regulation and Competition (CRC) Working papers, University of Manchester, Institute for Development Policy and Management (IDPM) 30599, University of Manchester, Institute for Development Policy and Management (IDPM).
  3. Lars Kumkar, 2002. "Regulatory Choices and Commitment � Challenges for Electricity Market Regulation in Kosovo," Kiel Working Papers 1114, Kiel Institute for the World Economy.

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