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Regulation of Natural Monopoly: The Turkish Electricity Market

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  • Özgün AKDURAN-EROL

Abstract

This study examines the situations that arise when regulating a natural monopoly market by focusing on Türkiye’s electricity market. Specifically, this qualitative study investigates the Energy Market Regulatory Authority (EMRA) in terms of capture theory, drawing on various documentary sources, such as electricity sector regulation legislation (constitutions, sector laws, decree-laws, Plan and Budgeting Committee documents of The Grand National Assembly of Türkiye), EMRA official decisions, newspaper reports from 2001 to 2021, and media interviews. The empirical findings discussed throughout the article reveal numerous instances consistent with the capture theory.

Suggested Citation

  • Özgün AKDURAN-EROL, 2024. "Regulation of Natural Monopoly: The Turkish Electricity Market," Sosyoekonomi Journal, Sosyoekonomi Society, issue 32(60).
    • Handle: RePEc:sos:sosjrn:240201
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    References listed on IDEAS

    as
    1. Jean-Jacques Laffont & Jean Tirole, 1991. "The Politics of Government Decision-Making: A Theory of Regulatory Capture," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(4), pages 1089-1127.
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    4. Carpenter, Daniel P., 2004. "Protection without Capture: Product Approval by a Politically Responsive, Learning Regulator," American Political Science Review, Cambridge University Press, vol. 98(4), pages 613-631, November.
    5. Kumar, Shashwat, 2022. "Taking root: Independent Regulatory Agency model of regulation in Indian electricity sector," Energy Policy, Elsevier, vol. 164(C).
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    7. Dubash, Navroz K., 2003. "Revisiting electricity reform: The case for a sustainable development approach," Utilities Policy, Elsevier, vol. 11(3), pages 143-154, September.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Natural Monopoly Markets; Regulatory Authority; Capture; Electricity Market.;
    All these keywords.

    JEL classification:

    • L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation

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