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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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    6. Paul L. Joskow, 1989. "Regulatory Failure, Regulatory Reform, and Structural Change in the Electrical Power Industry," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 20(1989 Micr), pages 125-208.
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