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Lessons Learned From Electricity Market Liberalization

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  • Paul L. Joskow

Abstract

This paper discusses the lessons learned from electricity sector liberalization over the last 20 years. The attributes of reform models that have exhibited good performance attributes are identified, drawing on empirical analysis of market structure, behavior and performance in many countries. Wholesale and retail market competition and network regulation performance evidence are discussed. Technical, economic, and political challenges to improving the efficiency of what continue to be partial liberalization programs in many countries are considered.

Suggested Citation

  • Paul L. Joskow, 2008. "Lessons Learned From Electricity Market Liberalization," The Energy Journal, , vol. 29(2_suppl), pages 9-42, December.
    • Handle: RePEc:sae:enejou:v:29:y:2008:i:2_suppl:p:9-42
    DOI: 10.5547/ISSN0195-6574-EJ-Vol29-NoSI2-3
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    References listed on IDEAS

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    1. Peter Cramton & Steven Stoft, 2006. "The Convergence of Market Designs for Adequate Generating Capacity," Papers of Peter Cramton 06mdfra, University of Maryland, Department of Economics - Peter Cramton, revised 2006.
    2. Tooraj Jamasb, 2002. "Reform and regulation of the electricity sectors in developing countries," Working Papers EP08, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    3. Geoff Bertram & Dan Twaddle, 2005. "Price-Cost Margins and Profit Rates in New Zealand Electricity Distribution Networks Since 1994: the Cost of Light Handed Regulation," Journal of Regulatory Economics, Springer, vol. 27(3), pages 281-308, January.
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    More about this item

    Keywords

    Electricity market liberalization; market structure; regulation; competition; performance;
    All these keywords.

    JEL classification:

    • F0 - International Economics - - General

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