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Lessons Learned from Electricity Market Liberalization

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  • Paul L. Joskow

Abstract

This paper discusses the lessons learned from electricity sector liberalization over the last 20 years. The attributes of reform models that have exhibited good performance attributes are identified, drawing on empirical analysis of market structure, behavior and performance in many countries. Wholesale and retail market competition and network regulation performance evidence are discussed. Technical, economic, and political challenges to improving the efficiency of what continue to be partial liberalization programs in many countries are considered.

Suggested Citation

  • Paul L. Joskow, 2008. "Lessons Learned from Electricity Market Liberalization," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 9-42.
    • Handle: RePEc:aen:journl:dn-se-a03
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    4. Geoff Bertram & Dan Twaddle, 2005. "Price-Cost Margins and Profit Rates in New Zealand Electricity Distribution Networks Since 1994: the Cost of Light Handed Regulation," Journal of Regulatory Economics, Springer, vol. 27(3), pages 281-308, January.
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