Markets vs. Regulation: A Role for Indicative Energy Planning
Ignacio J. Perez-Arriaga and Pedro Linares
Authors registered in the RePEc Author Service: Pedro Linares ()
The Energy Journal, 2008, vol. Volume 29, issue Special Issue #2, 149-164
When there is no vision, people perish. (Proverbs, 29:18) The energy sector worldwide is facing the enormous challenge of finding a path of economic, environmental, and social sustainability. This paper argues that, although markets are adequate instruments to achieve an efficient allocation of resources and to promote private initiative, the resolution of the sustainability challenge cannot be left only to market forces, but requires other complementary instruments, among which we highlight indicative energy planning. We discuss the role of indicative energy planning in the future of liberalized energy markets, and propose a general methodology for its implementation, as well as the identification of the major issues to be addressed.
JEL-codes: F0 (search for similar items in EconPapers)
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