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Regulating the Electricity Sector in Latin America

  • Pablo Serra

    ()

  • Ronald Fischer

During the past decade most Latin American countries reformed and liberalized their electric sectors. This paper examines these reforms, providing a critical examination of the effects. Late reformers learnt from the experience of earlier reforming countries, and in particular from the Chilean experience. This evolutionary process has meant less regulation of segments that are or can be made to be competitive (generation and commercial services) and more regulation of the non-competitive sectors (transmission and distribution) combined with the vertical disintegration of competitive and noncompetitive segments of the industry. Nevertheless, a market approach to generation must worry about the possibility of strategic behavior by generating companies. Some open questions remain, for example, how to solve the problem of the expansion of the transmission system and how to strike a balance between a regulator that has some freedom of action to react to unforeseen events, and the corresponding fear of regulatory takings.

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Article provided by ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION in its journal ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION.

Volume (Year): (2000)
Issue (Month): (August)
Pages:

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Handle: RePEc:col:000425:008712
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  1. Kaserman, David L & Mayo, John W, 1991. "The Measurement of Vertical Economies and the Efficient Structure of the Electric Utility Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 39(5), pages 483-502, September.
  2. Economides, Nicholas, 1998. "The incentive for non-price discrimination by an input monopolist," International Journal of Industrial Organization, Elsevier, vol. 16(3), pages 271-284, May.
  3. Pablo T. Spiller & Carlo G. Cardilli, 1997. "The Frontier of Telecommunications Deregulation: Small Countries Leading the Pack," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 127-138, Fall.
  4. Ennio Stacchetti, 1999. "Auction Design for the Colombian Electricity Market," Documentos de Trabajo 62, Centro de Economía Aplicada, Universidad de Chile.
  5. William M. Emmons, 1997. "Implications Of Ownership, Regulation, And Market Structure For Performance: Evidence From The U.S. Electric Utility Industry Before And After The New Deal," The Review of Economics and Statistics, MIT Press, vol. 79(2), pages 279-289, May.
  6. Catherine D. Wolfram, 1998. "Strategic Bidding in a Multiunit Auction: An Empirical Analysis of Bids to Supply Electricity in England and Wales," RAND Journal of Economics, The RAND Corporation, vol. 29(4), pages 703-725, Winter.
  7. Lee, Byung-Joo, 1995. "Separability Test for the Electricity Supply Industry," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 10(1), pages 49-60, Jan.-Marc.
  8. Spiller, Pablo T, 1996. "Institutions and Commitment," Industrial and Corporate Change, Oxford University Press, vol. 5(2), pages 421-52.
  9. Perry, Martin K., 1989. "Vertical integration: Determinants and effects," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 1, chapter 4, pages 183-255 Elsevier.
  10. Brunekreeft, Gert, 1997. "Open access vs. common carriage in electricity supply," Energy Economics, Elsevier, vol. 19(2), pages 225-238, May.
  11. Vickers, John, 1995. "Competition and Regulation in Vertically Related Markets," Review of Economic Studies, Wiley Blackwell, vol. 62(1), pages 1-17, January.
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