In this paper we describe the Spanish electricity industry and its
current regulatory regime. Special emphasis is given to the description and discussion of market design issues (including
stranded cost recovery), the evolution of market structure, investmenIn this paper we describe the Spanish electricity industry and its
current regulatory regime. Special emphasis is given to the description and discussion of market design issues (including
stranded cost recovery), the evolution of market structure, investment in generation capacity and network activities. We also
provide a critical assessment of the 1997 regulatory reform, which did not succeed in introducing effective competition, but
retained an opaque regulation which has been subject to continuous governmental interventionism. Furthermore, the
implementation of the Kyoto agreement could show the lack of robustness of the regulatory regime.[+][-]
Description:
Working paper públicado por el Instituto de Economía Industrial. serie nº 317,IDEI Working papers