Effects of regulatory reforms in the electricity supply industry on electricity prices in developing countries

Nagayama, Hiroyuki

doi:10.1016/j.enpol.2006.12.018

Cited by 91 publications

(70 citation statements)

References 7 publications

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“…Nagayama [30] used panel data for 83 countries covering the period 1985-2002 to examine how each policy instrument of the reform measures influenced electricity prices for countries in Latin America, the former Soviet Union, and Eastern Europe. The research findings suggested that neither unbundling nor introduction of a wholesale pool market on their own necessarily reduces the electricity prices.…”

Section: Review Of Earlier Studiesmentioning

confidence: 99%

Assessing the determinants of household electricity prices in the EU: a system-GMM panel data approach

Silva

Cerqueira

2017

Renewable and Sustainable Energy Reviews

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A meaningful portion of the consumer basket of European households and companies is embodied by electricity as well as gas or refined petroleum products. As energy products are essential inputs of nearly all final goods and services, whichever change of energy prices has a direct impact of the general price level. In this context, the main purpose of this study is to assess the main drivers of household electricity prices in the European Union (EU), throughout a period of deep sector transformation. Relying on Eurostat data, not only we analyze the long-term progress of household electricity prices across the EU, but also we provide empirical evidence on their determinants while confronting the results with the EU energy policy path. For this purpose a firsthand approach is herein developed based on a dynamic model with panel data through GMM proposal method by Blundell and Bond (1998) [4] with the Windermeijer (2005) [41] correction. The data analysis provides grounds for a relation between the variable of household electricity prices with variables related to sector liberalization, renewable energy sources which support the EU policy to boost liberalization. This study offers evidence that the sector liberalization is accompanied by a decreasing trend in prices, which is consistent with the European Commission's objectives to liberalize.

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Section: Review Of Earlier Studiesmentioning

confidence: 99%

Assessing the determinants of household electricity prices in the EU: a system-GMM panel data approach

Silva

Cerqueira

2017

Renewable and Sustainable Energy Reviews

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“…By the early 1980's, poor performance of vertically integrated electricity sectors had motivated many countries (developed and developing) to reform their power sectors towards a market oriented institutional framework (Bacon and Besant-Jones, 2001, Erdogdu, 2012, Jamasb, 2002. Post-reform evaluations reveal that many reforming countries (mostly developing) have not made major improvements to the performance of their power sectors (Nagayama, 2007, Jamasb, 2006, Jamasb et al, 2004, Kessides, 2013. Discrepancies in reforms' performance amongst developing countries is triggered by differences in country specific institutional endowments such as political and economic institutions, state level organizations and ideology of the key reform entrepreneurs (including rule makers, implementers and employees of the organizations) (Erdogdu, 2013a, Zhang et al, 2008.…”

Section: Background and Motivationmentioning

confidence: 99%

Reforming the power : an institutional analysis of power sector reforms in Pakistan

Ullah¹

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“…Other two studies on econometric modelling of electricity market reforms come from two papers by Nagayama (2007Nagayama ( , 2009. Nagayama (2007) used panel data for 83 countries covering the period 1985-2002 to examine how each policy instrument of the reform measures influenced electricity prices for countries in Latin America, the former Soviet Union, and Eastern Europe.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Nagayama (2007) used panel data for 83 countries covering the period 1985-2002 to examine how each policy instrument of the reform measures influenced electricity prices for countries in Latin America, the former Soviet Union, and Eastern Europe. The study found that variables such as entry of independent power producers (IPP), unbundling of generation and transmission, establishment of a regulatory agency, and the introduction of a wholesale spot market have had a variety of impacts on electricity prices, some of which were not always consistent with expected results.…”

Section: Literature Reviewmentioning

confidence: 99%

“…However, to our surprise, this variable has been ignored so far in almost all cross country econometric studies trying to explain the impact of reforms on electricity prices (see Ernst & Young (2006), Fiorio et al (2007, Nagayama (2007), Steiner (2001 and Thomas (2006)). Since fuel costs are probably the most important component of end user prices, any study excluding this variable destines to fall short.…”

Section: Introductionmentioning

confidence: 99%

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The impact of power market reforms on electricity price-cost margins and cross-subsidy levels: A cross country panel data analysis

Erdoğdu

2011

Energy Policy

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One of the main expectations from power market reform has been a reduction in price-cost margins and cross-subsidy levels between industrial and residential consumers. This paper 2 findings imply that reform steps have different impacts in different countries, which supports the idea that reform prescription for a specific country cannot easily be transferred to another one. So, transferring the formal and economic structure of a successful power market in a developed country to developing countries is not a sufficient condition for good economic performance of the electricity industries in developing countries. Furthermore, the study suggests that power consumption, income level and country specific features constitute other important determinants of electricity price-cost margins and cross-subsidy levels.

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Effects of regulatory reforms in the electricity supply industry on electricity prices in developing countries

Cited by 91 publications

References 7 publications

Assessing the determinants of household electricity prices in the EU: a system-GMM panel data approach

Assessing the determinants of household electricity prices in the EU: a system-GMM panel data approach

Reforming the power : an institutional analysis of power sector reforms in Pakistan

The impact of power market reforms on electricity price-cost margins and cross-subsidy levels: A cross country panel data analysis

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