KeywordsPOWER SECTOR REFORMS
EXERCISE OF MONOPOLY POWER
POWER SECTOR REFORM
REGULATORY IMPACT ASSESSMENT
PRIVATE SECTOR PARTICIPATION
REGULATION BY CONTRACT
FORMAL LEGAL REQUIREMENTS
FEDERAL ENERGY REGULATORY
FINANCIAL PERFORMANCE INDICATORS
Full recordShow full item record
AbstractMore than 200 new infrastructure
regulators have been created around the world in the last 15
years. They were established to encourage clear and
sustainable long-term economic and legal commitments by
governments and investors to encourage new investment to
benefit existing and new customers. There is now
considerable evidence that both investors and consumers-the
two groups that were supposed to have benefited from these
new regulatory systems-have often been disappointed with
their performance. The fundamental premise of this book is
that regulatory systems can be successfully reformed only if
there are independent, objective and public evaluations of
their performance. Just as one goes to a medical doctor for
a regular health checkup, it is clear that infrastructure
regulation would also benefit from periodic checkups. This
book provides a general framework as well as detailed
practical guidance on how to perform such regulatory checkups.
TypePublications & Research :: Publication
Copyright/LicenseCC BY 3.0 IGO
Showing items related by title, author, creator and subject.
Regulatory Governance and Sector Performance : Methodology and Evaluation for Electricity Distribution in Latin AmericaAndres, Luis; Lopez Azumendi, Sebastián; Guasch, José Luis (World Bank, Washington, DC, 2008-01)This paper contributes to the literature that explores the link between regulatory governance and sector performance. The paper develops an index of regulatory governance and estimates its impact on sector performance, showing that indeed regulation and its governance matter. The authors use two unique databases: (i) the World Bank Performance Database, which contains detailed annual data for 250 private and public electricity companies in Latin America and the Caribbean; and (ii) the Electricity Regulatory Governance Database, which contains data on several aspects of the governance of electricity agencies in the region. The authors run different models to explain the impacts of change in ownership and different characteristics of the regulatory agency on the performance of the utilities. The results suggest that the mere existence of a regulatory agency, regardless of the utilities' ownership, has a significant impact on performance. Furthermore, after controlling for the existence of a regulatory agency, the ownership dummies are still significant and with the expected signs. The authors propose an experience measure in order to identify the gradual impact of the regulatory agency on utility performance. The results confirm this hypothesis. In addition, the paper explores two different measures of governance, an aggregate measure of regulatory governance, and an index based on principal components, including autonomy, transparency, and accountability. The findings show that the governance of regulatory agencies matters and has significant effects on performance.
Philippines : Meeting the Infrastructure ChallengesWorld Bank (Washington, DC, 2012-06-19)The Philippines enjoys tremendous endowments of natural, and human resources that provide great potential for economic development and poverty reduction. However, overall development outcomes over the last decades have fallen short of potential. The gap can be largely attributed to weak performance of public institutions in providing services to citizens, which leads to a vicious cycle of weak public services, lack of trust in the government, and unwillingness on the part of citizens to provide adequate resources to the government. The key development challenge, therefore, is to reverse the cycle to one of virtuous development where increased government revenue translates into improved service delivery and greater public trust in the government. Infrastructure plays an important role in this development process. Insufficient infrastructure has been a major constraint to economic growth and poverty reduction in the Philippines. Though the country has relatively high access levels to water, sanitation, and electricity, service levels have failed to keep up with rapid population growth and urbanization. Infrastructure development in the country is hampered by a poor business environment; weaknesses in planning, coordination, and financing; and a decrease in private sector involvement in infrastructure provision. The report presents a road map which will help spur the expansion, and improvement of infrastructure services, and move the country into a virtuous circle of growth and development. It suggests that, in order to ease infrastructure constraints, the Philippines need to achieve a gradual increase in infrastructure investments to at least 5 percent of GDP, and an increase in the efficiency of spending. Furthermore, it is strongly suggested that the way forward for sustained development in infrastructure requires instigating a rigorous fiscal reform program; pursuing continued reforms in key sectors-particularly power, roads, and water-to improve cost recovery, competition, and institutional credibility, and to sharply reduce corruption; improving central oversight of the planning and coordination of investments; and, making a few focused investments through public-private partnerships to address key bottlenecks, and achieve quick gains in service delivery.
International Experience with Cross-border Power TradingWorld Bank (Washington, DC, 2009-09)The five main lessons for Southern Africa from our review of the experiencewith cross-border power trading in other regions of the work are that: Security of supply concerns need to be explicitly addressed and understood by the parties to proposed cross-border transactions. Regional entities need to be empowered to make decisions based on legally enforceable national government commitments, particularly in relation to planning, pricing, and settlement rules. Bilateral trading provides a basis for expanding trading volumes, both through constructing the physical infrastructure that future deals will use and by establishing workable legal and regulatory frameworks. Power pools will help to generate sustained increases in cross-border trading along with other regional trading arrangements, particularly in power systems with several interconnection. The substance and process of regulatory reviews in importing and exporting countries must be clear to create sufficient investment certainty.