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Electricity Sector Restructuring And Competition - Lessons Learned

  • Paul L. Joskow

We now have over a decade of experience with the privatization, restructuring, regulatory reform, and wholesale and retail competition in electricity sectors around the world. The objectives and design attributes of these reform programs are reviewed. The improvements in sector performance that have been achieved are discussed. The nature and sources of performance problems are also reviewed. Several lessons learned from this experience are identified and their implications for successful ongoing electricity reform initiatives presented. Electricity sector restructuring, regulatory reform and competition initiatives can yield significant consumer benefits when these reforms are designed and implemented well. Applying the lessons learned from recent experience can yield larger consumer benefits in the future.

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Paper provided by Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research in its series Working Papers with number 0314.

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Date of creation: Aug 2003
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Handle: RePEc:mee:wpaper:0314
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  1. Severin Borenstein & James B. Bushnell & Frank A. Wolak, 2002. "Measuring Market Inefficiencies in California's Restructured Wholesale Electricity Market," American Economic Review, American Economic Association, vol. 92(5), pages 1376-1405, December.
  2. Paul L. Joskow, 2001. "California's Electricity Crisis," Oxford Review of Economic Policy, Oxford University Press, vol. 17(3), pages 365-388.
  3. Joskow, Paul L & Tirole, Jean, 1999. "Transmission Rights and Market Power on Electric Power Networks I: Financial Rights," CEPR Discussion Papers 2093, C.E.P.R. Discussion Papers.
  4. Chisari, Omar & Estache, Antonio & Romero, Carlos, 1999. "Winners and Losers from Utility Privatization in Argentina. Lessons from a General Equilibrium Model," UADE Working Papers 3_1999, Instituto de Economía, Universidad Argentina de la Empresa.
  5. Hogan, William W, 1992. "Contract Networks for Electric Power Transmission," Journal of Regulatory Economics, Springer, vol. 4(3), pages 211-42, September.
  6. Green, Richard, 2000. "Can Competition Replace Regulation for Small Utility Customers?," CEPR Discussion Papers 2406, C.E.P.R. Discussion Papers.
  7. Catherine D. Wolfram, 1999. "Measuring Duopoly Power in the British Electricity Spot Market," American Economic Review, American Economic Association, vol. 89(4), pages 805-826, September.
  8. Paul L. Joskow, 1998. "Electricity Sectors in Transition," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 25-52.
  9. Estache, Antonio & Rodriguez-Pardina, Martin, 1999. "Light and lightning at the end of the public tunnel : reform of the electricity sector in the Southern Cone," Policy Research Working Paper Series 2074, The World Bank.
  10. Richard Gilbert & Neuhoff, K. & Newbery, D., 2002. "Allocating Transmission to Mitigate Market Power in Electricity Networks," Cambridge Working Papers in Economics 0225, Faculty of Economics, University of Cambridge.
  11. 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.
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