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Regulatory Bodies In Energy Sector: Energy Agency Of Republic Of Serbia Case

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  • Milica Jaksic
  • Miomir Jaksic

Abstract

The paper deals with introduction independence and accountability priciples in practice of regulatory bodies in energy sector. The independence of the public sector institutions encompass following dimensions: a) Personal - the appointment of the management bodies, and decision-making procedures, b) Financial - independent sources of financing, and c) Political - independence in setting the objectives and implementing the necessary policy. Introduction of principles of independence and accountability of regulatory bodies reduces the significance of obstacles of change which include the self interest of indivuduals and groups who fear that change may challenge their existing power and monopoly behaviour. The paper deals with status and role of regulatory bodies and consequences of their independence and accountability to public and parliement. Authors analyse different legal status of regulatory bodies in South-eastern Europe and Serbia and conclude that it is neccessary to include in national constitutions, as highest ligel act of each state, specific article which will stipulate a) basic goals of regulatory bodies and b) basic principles of regulatory bodies activities. In such way differences in legal status of regulatory bodies and inadequate level of their autonomy and independence would be avoided.

Suggested Citation

  • Milica Jaksic & Miomir Jaksic, 2011. "Regulatory Bodies In Energy Sector: Energy Agency Of Republic Of Serbia Case," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 7(2), pages 161-167.
  • Handle: RePEc:mje:mjejnl:v:7:y:2011:i:2:p:161-167
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