UNSPECIFIED (1999) Regulatory reform in the Spanish electricity industry: a missed opportunity for competition. ENERGY POLICY, 27 (7). pp. 387-399. ISSN 0301-4215

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Abstract

The reform of the electricity industry in Spain was announced as a drastic move towards freer markets and more competition. We argue that the reform is better seen as a lost opportunity for the rapid introduction of competition within the Spanish electricity sector. Although the new legal framework introduced an innovative spot market mechanism, the pro-competitive potential of this innovation was wasted by a seriously flawed privatisation program, by allowing continued vertical integration between generation and distribution and by limiting the liberalisation of supply activities. Furthermore, the Spanish case provides a useful example of the pitfalls of regulatory reform in countries with a long tradition of detailed state intervention and opaque regulatory systems. We conclude by suggesting a number of measures that, in spite of previous irreversible policy mistakes, could still enhance the competitiveness of the Spanish electricity markets, (C) 1999 Elsevier Science Ltd. All rights reserved.

Item Type:	Journal Article
Subjects:	T Technology > TJ Mechanical engineering and machinery G Geography. Anthropology. Recreation > GE Environmental Sciences
Journal or Publication Title:	ENERGY POLICY
Publisher:	ELSEVIER SCI LTD
ISSN:	0301-4215
Date:	July 1999
Volume:	27
Number:	7
Number of Pages:	13
Page Range:	pp. 387-399
Publication Status:	Published
URI:	http://wrap.warwick.ac.uk/id/eprint/14026

Data sourced from Thomson Reuters' Web of Knowledge

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