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Regulatory reform in the Spanish electricity industry: a missed opportunity for competition
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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 | ||||
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Subjects: | T Technology > TJ Mechanical engineering and machinery G Geography. Anthropology. Recreation > GE Environmental Sciences |
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Journal or Publication Title: | ENERGY POLICY | ||||
Publisher: | ELSEVIER SCI LTD | ||||
ISSN: | 0301-4215 | ||||
Official Date: | July 1999 | ||||
Dates: |
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Volume: | 27 | ||||
Number: | 7 | ||||
Number of Pages: | 13 | ||||
Page Range: | pp. 387-399 | ||||
Publication Status: | Published |
Data sourced from Thomson Reuters' Web of Knowledge
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