The contents of this volume were first published as part of an OECD book on regulatory reform in a variety of sectors. This updated version of the study is one in a series of short publications by the IEA on energy market reforms. Table of Contents 1. 1980s - 1990s Current Situation Industry Structure Ownership Current Regulatory Position and Indicators of Reform 3. Other Policy Objectives 4.
Electric power is essential to modern life.
It fuels much of industry, the incubator of the new-born, the computers of the commodity trader and the railways of the commuter. It is an input to almost all goods and services. At the same time, power generation and its end use have negative environmental effects and may be implicated in global warming. Since the middle of the century this central importance of electricity has been recognised by governments. Until very recently, most governments have also considered the whole power sector to be a natural monopoly and therefore that it should be closely regulated.