Establishing an efficient regulatory mechanism—Prerequisite for successful energy activities regulation

Eraldo Banovac, Mevludin Glavić and Sejid Tešnjak

Energy, 2009, vol. 34, issue 2, 178-189

Abstract: An analytic approach to determine appropriate regulatory strategies for the energy sector is proposed in this paper. A basic model of the regulatory system in the energy sector is defined, and the regulatory mechanism functions in this context are outlined. The basic problem of unknown factors (i.e., system entropy) is highlighted. An original algorithm developed to analyze regulatory background context and regulatory mechanism functions is discussed. A useful method for defining existing level of energy activities regulation is also presented using the Croatian regulatory framework as an example.

Keywords: Model of the regulatory system; Regulation; Regulatory mechanism; System entropy (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:34:y:2009:i:2:p:178-189

DOI: 10.1016/j.energy.2008.10.002

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