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Private Sector Participation in the Power Sector in Europe and Central Asia : Lessons from the Last Decade

Author

Listed:
  • Venkataraman Krishnaswamy
  • Gary Stuggins

Abstract

The Californian power crisis appears to have greatly rekindled the latent doubts on moving to more competitive market structures for such an essential service as electricity. The recent collapse of Enron and several other industrial giants, as well as doubts about the reliability of external audits (resulting, in particular, in the collapse of Arthur Anderson) and the slide in the stock values of AES and other companies has eroded the confidence in the institutional pillars of the market, such as corporate disclosure, external audit, and oversight by regulators and Security Exchange Commissions. Major energy investors, at least in North America, seem to be anxious to clean up their balance sheets to eliminate from their portfolio unprofitable and risky investments. Against this backdrop, the objective of this study is to review the experiences in the ECA regio

Suggested Citation

  • Venkataraman Krishnaswamy & Gary Stuggins, 2003. "Private Sector Participation in the Power Sector in Europe and Central Asia : Lessons from the Last Decade," World Bank Publications - Books, The World Bank Group, number 15123.
    • Handle: RePEc:wbk:wbpubs:15123
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/15123/265160PAPER0Pr1rticipation0in0power.pdf?sequence=1
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    Citations

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    Cited by:

    1. Pollitt, Michael, 2009. "Evaluating the evidence on electricity reform: Lessons for the South East Europe (SEE) market," Utilities Policy, Elsevier, vol. 17(1), pages 13-23, March.
    2. Mr. Alex Segura-Ubiergo & Miss Taline Koranchelian & Mr. Carlos Mulas-Granados, 2008. "Reforming Government Subsidies in the New Member States of the European Union," IMF Working Papers 2008/165, International Monetary Fund.
    3. Julian Lampietti, 2004. "Power's Promise : Electricity Reforms in Eastern Europe and Central Asia," World Bank Publications - Books, The World Bank Group, number 14936.
    4. Kundu, Goutam Kumar & Mishra, Bidhu Bhusan, 2011. "Impact of reform and privatization on consumers: A case study of power sector reform in Orissa, India," Energy Policy, Elsevier, vol. 39(6), pages 3537-3549, June.
    5. Michel Noel & W. Jan Brzeski, 2005. "Mobilizing Private Finance for Local Infrastructure in Europe and Central Asia : An Alternative Public Private Partnership Framework," World Bank Publications - Books, The World Bank Group, number 7333.
    6. Erdogdu, Erkan, 2005. "Energy market reforms in Turkey: An economic analysis," MPRA Paper 26929, University Library of Munich, Germany.
    7. Erdogdu, Erkan, 2007. "Regulatory reform in Turkish energy industry: An analysis," Energy Policy, Elsevier, vol. 35(2), pages 984-993, February.
    8. Williams, J.H. & Ghanadan, R., 2006. "Electricity reform in developing and transition countries: A reappraisal," Energy, Elsevier, vol. 31(6), pages 815-844.
    9. Nagayama, Hiroaki, 2009. "Electric power sector reform liberalization models and electric power prices in developing countries: An empirical analysis using international panel data," Energy Economics, Elsevier, vol. 31(3), pages 463-472, May.

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