Energy Market Liberalization Scenarios and Electricity Industry Policy Implications

The global energy market can be currently characterized by unstable oil and gas prices, a perceived global warming crisis, liberalization of the energy market, and so on. These changes require modifications in the industry policy framework and flexible adjustments. This study creates scenarios to pr...

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Bibliographic Details
Published inEast Asian economic review Vol. 11; no. 1; pp. 157 - 186
Main Authors Chan¡ Kook Park, Gweon-Cheol Lee
Format Journal Article
LanguageEnglish
Published Korea Institute for International Economic Policy 01.06.2007
Subjects
Electricity Industry Restructuring
Energy Market Liberalization Scenarios
Energy Policies
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Summary:The global energy market can be currently characterized by unstable oil and gas prices, a perceived global warming crisis, liberalization of the energy market, and so on. These changes require modifications in the industry policy framework and flexible adjustments. This study creates scenarios to predict the future energy market and identifies various influences on the electricity industry based on these scenarios. "Energy Service Classifications,""Regulatory Body Types," "Securing the Policy Compliance of Target groups" were selected as the major variables that decisively influence the future of energy market liberalization. Four significant scenarios were subsequently created by combining each variant. The implications derived through the scenarios should help policy­makers minimize risks related to implementation of restructuring plans in the electricity industry.
ISSN:2508-1640
2508-1667
DOI:10.11644/KIEP.JEAI.2007.11.1.167