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Regulatory Policies and Reforms in the Power and Downstream Oil Industries

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  • Aldaba, Rafaelita M.

Abstract

This paper looks at the regulatory reforms in the electricity and downstream oil industries, two important inputs to the production process that were heavily regulated by the government. While electricity has strong externalities as well as economies of scale and scope, the oil industry does not exhibit natural monopoly characteristics nor does it display economic features that would warrant government regulation. The paper also analyzes the economic theories underlying these reforms: why is regulation necessary, what are the different forms of regulation, and how can these policy reforms bring about competition? It also identifies the emerging issues and problems associated with the regulatory reforms. Given our little experience in the effective use of public regulation in a market-driven setting, research is needed to provide a deeper understanding of these issues within the context of our economic, institutional and political structure. This is necessary in order to come up with possible approaches to overcome our weaknesses and shore up weak administrative and enforcement capacities.

Suggested Citation

  • Aldaba, Rafaelita M., 2003. "Regulatory Policies and Reforms in the Power and Downstream Oil Industries," Discussion Papers DP 2003-16, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:dpaper:dp_2003-16
    as

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    File URL: https://www.pids.gov.ph/publication/discussion-papers/regulatory-policies-and-reforms-in-the-power-and-downstream-oil-industries
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    References listed on IDEAS

    as
    1. Antonio Estache & Ellis Juan & Lourdes Trujillo, 2011. "Public–Private Partnerships in Transport," Chapters, in: André de Palma & Robin Lindsey & Emile Quinet & Roger Vickerman (ed.), A Handbook of Transport Economics, chapter 30, Edward Elgar Publishing.
    2. Estache, Antonio & Valletti, Tommaso, 1999. "The Theory of Access Pricing: an Overview for Infrastructure Regulators," CEPR Discussion Papers 2133, C.E.P.R. Discussion Papers.
    3. John Michael Ian S. Salas, 2002. "Price Adjustments and Asymmetry in the Philippine Retail Gasoline Market," Industrial Organization 0209001, University Library of Munich, Germany.
    4. Burns, Phil & Estache, Antonio, 1998. "Information, accounting, and the regulation of concessioned infrastructure monopolies," Policy Research Working Paper Series 2034, The World Bank.
    5. Cororaton, Caesar B., 2000. "Oil Price Increase: Can Something be Done to Minimize its Effects?," Discussion Papers DP 2000-32, Philippine Institute for Development Studies.
    6. Newbery,D.M., 1995. "Regulatory Policies and Reform in the Electricity Supply Industry," Cambridge Working Papers in Economics 9421, Faculty of Economics, University of Cambridge.
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    Cited by:

    1. Raul V. Fabella & Rafaelita M. Aldaba, 2004. "The regulatory environment of the energy industry in the Philippines," Chapters, in: Paul Cook & Colin Kirkpatrick & Martin Minogue & David Parker (ed.), Leading Issues in Competition, Regulation and Development, chapter 19, Edward Elgar Publishing.
    2. Ravago, Majah-Leah V. & Brucal, Arlan Zandro & Roumasset, James & Punongbayan, Jan Carlo, 2019. "The role of power prices in structural transformation: Evidence from the Philippines," Journal of Asian Economics, Elsevier, vol. 61(C), pages 20-33.
    3. Majah-Leah V. Ravago & Arlan Zandro I. Brucal & James Roumasset & Jan Carlo Punongbayan, 2019. "The Role of Electricity Prices in Structural Transformation: Evidence from the Philippines," Working Papers 2019-2, University of Hawaii Economic Research Organization, University of Hawaii at Manoa.
    4. Aldaba, Rafaelita M., 2005. "The Impact of Market Reforms on Competition, Structure and Performance of the Philippine Economy," Discussion Papers DP 2005-24, Philippine Institute for Development Studies.

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