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Books > Business & Economics > Industry & industrial studies > Energy industries & utilities
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Rethinking power sector reform in the developing world (Paperback)
Loot Price: R1,115
Discovery Miles 11 150
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Rethinking power sector reform in the developing world (Paperback)
Series: Sustainable infrastructure series
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During the 1990s, a new paradigm for power sector reform was put
forward emphasizing the restructuring ofutilities, the creation of
regulators, the participation of the private sector, and the
establishment of competitivepower markets. Twenty-five years later,
only a handful of developing countries have fully implemented
theseWashington Consensus policies. Across the developing world,
reforms were adopted rather selectively, resultingin a 'hybrid
model' where elements of market-orientation coexist with continued
state-dominance of the sector.This book aims to revisit and refresh
thinking on power sector reform approaches for developing
countries. Theapproach relies heavily on evidence from the past,
drawing both on broad global trends, and deep case materialfrom 15
developing countries. It is also forward-looking; considering the
implications of new social andenvironmental policy goals, as well
as emerging technological disruptions.A nuanced picture emerges.
While regulation has been widely adopted, practice often falls well
short of theory;and cost recovery remains an elusive goal. The
private sector has financed a substantial expa_nsion of
generationcapacity. Yet, its contribution to power distribution has
been much more limited, with efficiency levels cansometimes be
matched by well-governed public utilities. Restructuring and
liberalization have been beneficial ina handful of larger
middle-income nations; but have proved too complex for most
countries to implement.Based on these findings, the report points
to three major policy implications. First, reform efforts need to
beshaped by the political and economic context of the host country.
The 1990s reform model was most successfulin countries that had
reached certain minimum conditions of power sector development and
offered asupportive political environment. Second, reform efforts
should be driven and tailored towards desired policyoutcomes, and
less preoccupied with following a predetermined process.
Particularly given that WashingtonConsensus reforms alone will not
deliver on twenty-first century policy objectives. Third, countries
foundalternative institutional pathways to achieving good power
sector outcomes, making a case for greater pluralismgoing forward.
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