Energy Market Liberalization Scenarios and Electricity Industry Policy Implications

Chan¡ Kook Park () and Gweon-Cheol Lee ()
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Chan¡ Kook Park: IT Strategy Institute
Gweon-Cheol Lee: Korea Electric Power Corporation

East Asian Economic Review, 2007, vol. 11, issue 1, 157-186

Abstract: 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.

Keywords: Energy Market Liberalization Scenarios; Electricity Industry Restructuring; Energy Policies (search for similar items in EconPapers)
JEL-codes: L11 L52 L94 Q41 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:ris:eaerev:0157

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