Revisiting Electricity Market Reforms

This book combines the fundamentals of industrial organization theories based on microeconomic foundations, applied econometrics and environmental and natural resource economics in undertaking a comprehensive review of reforms of the power sector and its impact on industrial and socio-economic performance. The book provides the reader with the intellectual groundwork necessary for understanding the workings and interactions of today's reforming power markets such as in the ASEAN and East Asia that are striving to achieve the energy policy trilemma of affordability, energy sustainability and energy security. The topics addressed in this book include application of welfare theorems such as competition in and for the market in the electricity sector, market failures such as lack of electricity access, analysis of forecasting models under volatility, energy resource allocation such as renewable energy and competitive market designs of energy markets. Country-specific and region-specific case studies are used to analyze the progress and outcomes of market-driven electricity reforms across the reforming and advanced electricity markets. Therefore, the book derives policy lessons and provides policy recommendations in reforming power markets for the ASEAN and East Asia taking stock of more than three decades of global experience with power sector reforms. The electricity markets case studies are carefully chosen and supported by extensive data analyses as appropriate. This book on energy economics and policy is highly recommended to readers who seek an in-depth and up-to-date integrated overview about the evolving literature and status on electricity market reforms with a particular reference to Asia.

Auteur

Dr. Han Phoumin is Senior Energy Economist with the Economic Research Institute for ASEAN and East Asia. He has more than 20 years of experience working at various international and inter-governmental organizations and multidisciplinary research consortiums related to the energy market and technologies, environment, integrated water resource management, governance, and economic development in the region of the Association of Southeast Asian Nations and East Asia. He specializes in economic development and policy and applied econometrics. Over the past ten years, much of his career has involved the power sector, incredibly sustainable hydropower development, renewable energy research, energy efficiency, clean coal technology, energy security, and energy demand and supply forecasting. Dr. Farhad Taghizadeh-Hesary is an associate professor at Tokai University (Japan) and a visiting professor at Keio University (Japan). He is the co-founder and vice presidentat the International Society for Energy Transition Studies-ISETS. He is Editor-in-Chief of the J. Environmental Assessment Policy and Management (JEAPM) and Associate Editor of several scholarly journals, including Singapore Economic Review, Global Finance Journal, Economic Change and Restructuring; Energy Efficiency; China Finance Review International. He authored more than 200 peer-reviewed scholarly journal papers and book chapters and edited 15 books published by Springer Nature, Routledge, World Scientific, and Asian Development Bank Institute. He holds a Ph.D. degree in economics from Keio University. His main research and teaching areas are energy policy, energy economics, green finance, applied macroeconomics, and Asian economics. Prof. Fukunari Kimura is Professor in the Faculty of Economics, Keio University, Tokyo, Japan. He is also Chief Economist at the Economic Research Institute for ASEAN and East Asia, Jakarta, Indonesia, since 2008. He serves asa co-editor of the Journal of the Japanese and International Economies. He specializes in international trade and development economics. He has recently been active in writing academic and semi-academic books and articles on international production networks and economic integration in East Asia. Dr. Rabindra Nepal is Associate Professor of Economics at the School of Business within the Faculty of Business and Law of the University of Wollongong in Australia. He is an internationally recognized academic and researcher in the areas of energy, environment and resource and have previously consulted international organizations like the World Bank, the European Commission, the International Centre for Integrated Mountain Development (ICIMOD), the Economic Research Institute for ASEAN and East Asia (ERIA) and the National Research Institute (NRI) of Papua New Guinea. He has widely published in the research areas of energy, resource and environment with more than 70 journal articles and book chapters in journals like Energy Economics, Tourism Management, The Energy Journal, Energy Policy, Journal of Sustainable Tourism. He has taught a range of diverse subjects in Economics. Dr. Gazi Salah Uddin is Associate Professor of Financial Economics at the Department of Management and Engineering, Linköping University, Sweden, and also visiting Professor, Trinity Business School, Ireland. His research interests emphasizes strongly on multidisciplinary aspects, where econometric techniques and methodologies from economics, physics, engineering, and psychology are implemented in studying the complexity of economic and financial systems on a macro-level, focused on areas such as international economics and financial markets energy and corporate finance.