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Reformas Regulatórias e Reestruturação no Setor Elétrico


  • Bruno José Marques Pinto

    (Graduate School of Economics at Getulio Vargas Foundation - EPGE/FGV)


The paper examines the economic and regulatory factors that led to an explosion in the wholesale power prices, supply shortages, and utility insolvencies in California’s electricity sector. A necessary first step in determining the lessons learned from the California electricity crisis is a diagnosis of its causes. This requires a clear understanding of the federal and state regulatory infrastructure that governs the US electricity supply industry. The structure of California’s restructured electricity sector and its performance are discussed. The effects on wholesale market prices are analyzed. The regulatory responses leading to utility credit problems and supply shortages are also discussed. The paper concludes with a set of lessons from the California electricity crisis.

Suggested Citation

  • Bruno José Marques Pinto, 2005. "Reformas Regulatórias e Reestruturação no Setor Elétrico," Industrial Organization 0506004, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpio:0506004
    Note: Type of Document - pdf; pages: 16. Working Paper in Portuguese

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    More about this item


    Electricity; Eletricidade; Regulation; Regulação; Califórnia; deregulation;
    All these keywords.

    JEL classification:

    • L5 - Industrial Organization - - Regulation and Industrial Policy
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance


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