Policy and economic issues of electrical power and energy systems

During the last quarter of the 20th century, many developments have served as catalysts for changes in the national energy policies of countries throughout the globe. These catalysts have affected the institutions and energy framework of virtually every country. In the majority of countries, the predominant electricity supply institution is the electric utility monopoly – characterised by some degree of government ownership and control. In many of these countries, self-generation supplements the electricity supply. To the extent that existing institutions have been unable to create new sources of funding for new electricity sector capacity and cope with environmental imperatives, governments are turning to the private sector. This paper presents a brief overview on the recent policy, technology, structure and market changes that have occurred in the electric power industry.