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Regulating the Electricaly Sector in Latin America

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  • Ronald Fischer

    ()

  • Pablo Serra

    ()

Abstract

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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File URL: http://www.dii.uchile.cl/~cea/sitedev/cea/www/download.php?file=documentos_trabajo/ASOCFILE120030328122020.pdf
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Paper provided by Centro de Economía Aplicada, Universidad de Chile in its series Documentos de Trabajo with number 86.

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Date of creation: 2000
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Handle: RePEc:edj:ceauch:86
Contact details of provider: Web page: http://www.dii.uchile.cl/cea/

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Find related papers by JEL classification:
  • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
  • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
  • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
  • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy

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  1. Brunekreeft, Gert, 1997. "Open access vs. common carriage in electricity supply," Energy Economics, Elsevier, vol. 19(2), pages 225-238, May.
  2. 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.
  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. 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.
  6. John Vickers, 1995. "Competition and Regulation in Vertically Related Markets," Review of Economic Studies, Oxford University Press, vol. 62(1), pages 1-17.
  7. Spiller, Pablo T, 1996. "Institutions and Commitment," Industrial and Corporate Change, Oxford University Press, vol. 5(2), pages 421-52.
  8. 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.
  9. 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.
  10. 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.
  11. 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.
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Cited by:

  1. Ioannis N. Kessides, 2005. "The Challenges of Infrastructure Privatisation," CESifo DICE Report, Ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 3(1), pages 19-25, 04.
  2. Alberto Chong & Florencio Lopez-de-Silanes, 2003. "The Truth About Privatization in Latin America," Research Department Publications 3180, Inter-American Development Bank, Research Department.
  3. Finon, Dominique, 2006. "Incentives to invest in liberalised electricity industries in the North and South. Differences in the need for suitable institutional arrangements," Energy Policy, Elsevier, vol. 34(5), pages 601-618, March.
  4. Newbery, D., 2002. "Issues and Options for Restructuring Electricity Supply Industries," Cambridge Working Papers in Economics 0210, Faculty of Economics, University of Cambridge.
  5. Pineau, Pierre-Olivier & Hira, Anil & Froschauer, Karl, 2004. "Measuring international electricity integration: a comparative study of the power systems under the Nordic Council, MERCOSUR, and NAFTA," Energy Policy, Elsevier, vol. 32(13), pages 1457-1475, September.
  6. Estache, Antonio & Rossi, Martin, 2004. "Have consumers benefited from the reforms in the electricity distribution sector in Latin America?," Policy Research Working Paper Series 3420, The World Bank.
  7. Dal Bo, Ernesto & Rossi, Martin A., 2007. "Corruption and inefficiency: Theory and evidence from electric utilities," Journal of Public Economics, Elsevier, vol. 91(5-6), pages 939-962, June.
  8. Stern, J., 2000. "Electricity and telecommunications regulatory institutions in small and developing countries," Utilities Policy, Elsevier, vol. 9(3), pages 131-157, September.
  9. Escobari, Diego, 2011. "A theoretical model of collusion and regulation in an electricity spot market," MPRA Paper 32178, University Library of Munich, Germany.
  10. M. Pollitt, 2004. "Electricity reform in Chile. Lessons for developing countries," Competition and Regulation in Network Industries, Intersentia, vol. 5(3), pages 221-263, September.
  11. Mota, R.L., 2004. "‘Comparing Brazil and USA electricity performance; what was the impact of privatisation?’," Cambridge Working Papers in Economics 0423, Faculty of Economics, University of Cambridge.
  12. Jamasb, T., 2002. "Reform and Regulation of the Electricity Sectors in Developing Countries," Cambridge Working Papers in Economics 0226, Faculty of Economics, University of Cambridge.
  13. Jamasb, Tooraj, 2006. "Between the state and market: Electricity sector reform in developing countries," Utilities Policy, Elsevier, vol. 14(1), pages 14-30, March.
  14. Martín Rossi, 2015. "Using Labor Productivity Change Estimates as an Input for X-Factors in Price-Cap Regulation," Working Papers 118, Universidad de San Andres, Departamento de Economia, revised Feb 2015.
  15. Galetovic, Alexander & Muñoz, Cristián M., 2011. "Regulated electricity retailing in Chile," Energy Policy, Elsevier, vol. 39(10), pages 6453-6465, October.

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