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Electricity market restructuring: reforms of reforms.
This chapter presents a framework for explaining the differences in the approach to electricity market restructuring around the world.
As they face up to the rigours of the world market, restructuring is likely to gather pace.
Mr. Krämer noted that Germany had gone through its own labor market restructuring over the past decade.
Conservative policies, Mr. Morris writes, produced not just excess but a great market restructuring, while government can become bloated.
Much of the literature to date estimating the impacts of electricity market restructuring fails to take into account the possible endogeneity of the reform process.
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Two intersecting events of the last two decades have transformed the electricity industry: (1) market restructure designed to introduce wholesale market competition; and (2) renewable energy development fostered by government policies, including renewable portfolio standards (RPS).
Gas suppliers on the east coast of Australia have used a market restructure to hike prices on domestic consumers and there is evidence pipeline operators have set monopoly prices, the competition watchdog has said.
New policies reduced restrictions on foreign investment (to encourage the entry of more foreign capital into the soybean market), restructured farm income taxes (to encourage greater investment in soybean production), lowered import tariffs on fertilizers and pesticides (to facilitate higher soybean yields), and eliminated the soybean export tax (to promote greater exports) [ 44].
Jörg Krämer, chief economist at Commerzbank in Frankfurt, noted that Germany had gone through its own labor-market restructuring over the last decade.
An Enron official said Frank Luntz, a Republican pollster, did polling for the company before and after the 2000 presidential campaign, gauging attitudes about energy-market restructuring in California, among other issues.
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